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ACB to launch VND20-trillion bond issue

The Saigon Times

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HCMC – The board of directors of Asia Commercial Joint Stock Bank (ACB) has approved a plan to issue bonds through private placement in 2023, with a total value of up to VND20 trillion.

Under the approved plan, ACB will issue a maximum of 200,000 bonds in 20 rounds, with each bond having a face value of VND100 million or a multiple of VND100 million.

These bonds will be non-convertible, not underwritten, and not considered a subordinated debt of ACB. They will have a maximum term of five years and carry a fixed coupon rate throughout their tenure.

The proceeds from the bond sales will be used to meet the bank’s lending and investment requirements, ensuring compliance with safety benchmarks mandated by the State Bank of Vietnam.

At the end of the first quarter of 2023, ACB had over VND36 trillion worth of outstanding bonds. Bonds with a maturity of one to two years amounted to VND11.45 trillion.

Those with terms of three years and five years accounted for VND20.7 trillion and nearly VND1.5 trillion, respectively. The remainder has a term of 10 years, totaling VND2.4 trillion.

ACB shares edged up 1.13% to VND22,300 each at the close today, July 25, with 13.3 million shares traded.

The VN-Index of the Hochiminh Stock Exchange rose further with a gain of 5.18 points, up 0.44% from Monday, at 1,195.9 points.

The southern bourse closed with 207 winners and 250 losers. Trade volume barely changed with over one million shares matched, but trading value improved slightly to VND20.1 trillion. Block deals contributed nearly VND1.6 trillion to the overall value, with 82.1 million shares changing hands.

The gain in the VN-Index was largely attributed to the strong performance of VCB, Vietnam’s largest stock by market capitalization.

VCB increased 3.5% to VND91,700 per share with a matching volume of 2.35 million shares, contributing 3.83 positive points to the main index.

NVL, which had a remarkable surge yesterday, cooled down and closed at the reference price of VND16,200 per share. However, it still had the highest trading volume on the market, with over 42.4 million shares exchanged.

Other major stocks such as HPG, PLX, VPB, and PDR also closed at their reference prices, with VPB leading the four in terms of volume with 26.1 million shares traded, followed by HPG with 20.2 million shares, and PDR with 19.7 million shares.

On the contrary, only four stocks edged down by 1% to 1.8%, including VIC, BCM, MWG, and GVR. Meanwhile, stocks such as HDB, POW, STB, MSN, and VHM slightly fell.

On the northern bourse, the HNX-Index inched up 0.4 points, or 0.17% day-on-day, to 236.93 points, with 82 advancers and 107 decliners.

The total trading volume on the northern market amounted to more than 107.4 million shares, with a value of VND1.7 trillion.

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