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Becamex mobilises over $82 million from bond issuance
The Investment and Industrial Development Corporation (Becamex IDC) successfully issued a batch of 20,000 bonds last month.
Becamex's building in Bình Dương Province. The property developer set a gain of 19 per cent in revenue this year. — Photo courtesy of becamexdeptstore.vn
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The 5-year bonds were released on September 20 and will mature on July 5, 2028, according to the Hồ Chí Minh City Stock Exchange (HoSE).
With a par value of VNĐ100 million, the bath of bonds is worth VNĐ2 trillion (US$82.2 million).
Becamex does not disclose information about interest or the type of bond, with or without collateral.
Most recently, in September, Becamex’s Board of Directors decided to restart the bond issuance plan, approving the plan to release VNĐ760 billion of private bonds in 2023.
The entire plan of capital spending, resources for arranging debt repayment, and collateral assets will be described in the issuance strategy.
In the first half of this year, Becamex recorded net revenue and profit after tax of nearly VNĐ2.1 trillion and VNĐ106 billion, respectively, down 38.2 per cent and 92.5 per cent year-on-year.
The company expected to achieve a total revenue of VNĐ9.46 trillion this year, an increase of 19 per cent from 2022, while profit after tax is set to gain 32 per cent on-year to more than VNĐ2.26 trillion.
As a result, Becamex has only achieved 22.3 per cent of the year's revenue target and 4.7 per cent of the yearly profit expectation as of the end of June.
On the stock market, Becamex's shares were traded at VNĐ68,800 per share on Monday’s morning.
Bizhub
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