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Monday, June 17, 2024

OCB to launch VND26-trillion bond issue this year

The Saigon Times

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HCMC – Orient Commercial Joint Stock Bank (OCB) has announced plans to launch a VND26-trillion bond issue via private placement this year.

Those non-convertible bonds will have a par value of VND1 billion each and come with neither warrants nor mortgages.

The bank will launch 15 rounds of bond sale worth around VND1-2 trillion each in the second, third, and fourth quarters of 2023. Target buyers are professional investors as prescribed by law.

According to the bank, the proceeds from bond sales will be used for lending, investing and other purposes in line with the current regulations. OCB has already cleared the principal and coupons of the bonds issued in the past three years.

Its pre-tax profit target for 2023 is VND6 trillion, up 37% compared to 2022, while its return on equity reaches 17.14%, and its capital adequacy ratio (CAR) is 10% at minimum.

By the end of the first quarter, OCB made VND983 billion in profit before tax, up 18% year-on-year, with its total assets amounting to VND199.1 trillion, increasing 2.65% against January.

OCB closed the trading session today, June 26, up 1.08% from the previous session to VND18,800 per share, with more than 1.4 million shares matched.

The Hochiminh Stock Exchange’s VN-Index added 2.65 points, or 0.23%, higher than last Friday’s session, at 1,132.03 points despite decliners outnumbering advancers by 258 to 165.

Trade rose 14.75% in volume and 12% in value compared to the session earlier, with 1.04 billion shares worth more than VND20.3 trillion changing hands. Block deals contributed over VND2 trillion to the overall value, with around 85.4 million shares traded.

Bluechips were the main supportive factors to the market, with 18 stocks in the VN30 basket rising while only eight others dipping.

NVL, GVR and MWG contributed a combined 1.9 positive points to the benchmark VN-Index with respective gains of 2.2%, 3.5% and 3.4%.

Developer NVL increased 2.8% and saw 50.4 million shares transacted, making it the most actively traded stock among the largest 30 stocks by market capitalization and the third most traded stock on the southern bourse.

Other real estate stocks such as KBC, VCG, DIG, PDR, CII, VCG and HHV also attracted cash flow with matching volume from nearly 11 million to 36.6 million shares.

Brokerage VIX stole the limelight with a matching volume of over 68.5 million shares, helping it take the lead by liquidity on the southern market. However, VIX finished the day down, losing 5.74% at VND11,500 per share.

VND and SSI inched down 1.8% and 0.8%, with a respective matching volume of 33.6 million and 17.4 million shares.

Meanwhile, the Hanoi Stock Exchange saw losers doubling winners by 116 and 59, driving the HNX-Index down 0.52 points, or 0.23%, to 231.01 points.

There were 114.6 million valued at VND1.9 trillion traded on the northern market.

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