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Tuesday, December 6, 2022

Nam Long launches VND500 billion bond issue

The Saigon Times

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HCMC – Nam Long Investment Corporation (NLG) has issued VND500 billion worth of bonds with a term of seven years and an annual coupon of 9.35%.

On June 14, the firm issued the inconvertible secured bonds without warrants, the local media reported.

The shares of Nam Long VCD, NLG’s subsidiary, and of its joint venture, NNH Mizuki JSC, were used as collateral.

International Finance Corporation, a private-sector arm of the World Bank, had earlier registered to buy NLG’s bonds worth VND1 trillion, or some US$44 million.

This year, the firm expects to obtain VND7.15 trillion in net revenue and VND1.5 trillion in after-tax profit.

In the first quarter of 2022, NLG posted VND587.4 billion in revenue, surging by 149% year-on-year but reaching only 2.1% of its full-year revenue target, while its after-tax profit amounted to VND32.7 billion in the first three months of 2022, down 91% against the same period last year.

NLG closed the session today, June 22, up 2.35%, ending a three-session losing streak.

As many bluechips fared poorly, the VN-Index of the Hochiminh Stock Exchange lost 3.20 points, or 0.27%, from the previous session, at 1.169.27, with 295 gainers and 181 decliners.

Trade volume totaled over 592 million shares worth VND13.3 trillion, down 14.8% and 15.6%, against the session earlier, respectively.

All bank stocks but VCB and HDB traded in positive territory, with STB, MSB, VIB and LPB ending at their upper limits.

Meanwhile, the northern bourse turned positive with 147 winners and 62 losers, seeing the HNX-Index improving 4.77 points, or 1.8%, from the day earlier, at 269.39.

In the HNX30 basket, the number of rising stocks doubled that of falling ones.

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