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Saturday, July 13, 2024

BaF Vietnam issues VND300 billion worth of bonds

The Saigon Times

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HCMC – BaF Vietnam Agriculture JSC, which trades its BAF shares on the Hochiminh Stock Exchange, has issued VND300 billion worth of corporate bonds, increasing its debt-to-equity ratio from 2.15 to 2.31 times.

With neither warrants nor mortgages, those non-convertible bonds come with a term of 36 months and a coupon of 10.5%. Six domestic and foreign organizations have purchased 98.87% of the total bond volume issued.

BaF Vietnam will use VND225 billion from the proceeds to purchase goods, around VND50 billion for additives and raw materials, and the remaining VND25 billion for farm lease expenses.

The company recorded first-quarter revenue of VND816.54 billion, down 46.9%, and after-tax profit of VND3.91 billion, plunging by 95.5% versus the year-ago period. Particularly, its gross profit margin decreased from 9.2% to 7.8%.

Previously, BaF Vietnam set a revenue target of over VND7.5 trillion and an after-tax profit target of VND301 billion in 2023. By the end of the first quarter of 2023, the company has only achieved 1.3% of the after-tax profit target.

Closing the trading session today, July 10, the BAF stock surged by 4.5% to VND25,000 per share, with over 4.3 million shares changing hands.

Regarding the stock market, the VN-Index of the Hochiminh Stock Exchange added 10.95 points, or 0.96%, from the previous session to 1,149.02 points, with 327 winners and 97 losers. Trade volume totaled 879.43 million shares worth VND18.4 trillion, up 10% in volume and value, against the previous day.

The VN30 basket made a significant contribution to the rise of the VN-Index, with 23 stocks advancing and only four stocks declining.

With over two million shares traded, lender BID stock closed at its highest price of the day at VND46,950 per share, marking an impressive 6% increase.

Meanwhile, lender VCB closed at VND102,700 per share, down 2.2%.

The group of securities shares performed well today, with SSI increasing by nearly 4%, VCI rising by 2.21%, FTS growing by 3.1%, and BSI, VIX, and CTS all seeing over 1% gains. VND took the lead by liquidity with nearly 39.5 million shares traded, followed by SSI with over 30.63 million shares.

With 120 gainers and 66 losers, the HNX-Index closed with an increase of 2.55 points, or 1.13%, at 228.37 points. The total trading volume reached 120.4 million shares with a value of over VND1.9 trillion.

There were 13.58 million shares traded in block deals, valued at VND261.36 billion.

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