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IDICO to issue VND400 billion worth of bonds

The Saigon Times

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HCMC – IDICO Corporation JSC (IDC), which is listed on the Hanoi Stock Exchange with the stock code IDC, has passed a plan to issue VND400 billion worth of bonds this year to raise funds for the development, operation, repair and maintenance of the Dak Mi 3 hydropower plant.

The three-year bond is expected to be issued this month, with an annual coupon of 8%. IDICO plans to use shares of IDICO Infrastructure Development Investment JSC, IDICO Investment Construction Oil and Natural Gas JSC, IDICO Long An Investment Construction JSC, and term deposits as security for the debt.

The Dak Mi 3 hydropower plant in the central province of Quang Nam has a capacity of 63MW and two generators. The VND1.626-trillion plant was put into service on August 8, 2017, reported Dau tu Chung khoan newspaper.

In related news, IDC recently announced documents for its general shareholders meeting in 2022. The company looks to earn over VND3.3 trillion in revenue and over VND2.3 trillion in pre-tax profit, both up 198.7% and 83.2% against the 2021 figures.

Closing the trading session today, April 4, IDC improved 0.62% to reach VND81,100 per share, with over 4.5 million shares changing hands.

Regarding the benchmark VN-Index of the HCMC market, it added 8.26 points, or 0.54% against the previous session at 1,524.7, with 250 advancers and 187 decliners. Turnover on the southern bourse declined 19.4% in volume but rose slightly in value compared to last Friday at nearly 780 million shares and more than VND26.7 trillion. Shares traded in block deals contributed over VND1.9 trillion to the overall value.

On the northern bourse, the HNX-Index gained 4.59 points, or 1.01% versus the previous session to end at 458.69, with 161 stocks rising and 92 others falling.

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