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Thursday, May 23, 2024

Vinhomes plans to raise up to VND10 trillion through bond sales

By Truc Dao

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HCMC – Vinhomes JSC (HOSE: VHM) has announced to launch multiple bond issues to raise up to VND10 trillion through public offering or private placement.

The non-convertible bonds, without warrants or mortgages, will come with a term of 24 to 36 months and a face value of VND100,000 for public offerings or VND100 million per bond for private placements. These bonds are set to be issued in the third quarter of this year and will carry a fixed coupon rate.

While the specific coupon rates and the purpose of the bond issues have not been disclosed, Vinhomes said that the bonds will enjoy equal payment priority alongside other unsecured obligations, ensuring equitable rights and benefits for bondholders.

Vinhomes put its bond balance in 2023 at VND15.3 trillion, up by 57% over the previous year. Over VND4.4 trillion worth of these bonds will fall due this year.

Vinhomes, the real estate arm of Vingroup JSC, is involved in various large-scale urban projects, including Vinhomes Ocean Parks I, II and III, and Vinhomes Grand Park.

Vinhomes’ 2023 financial report put its total assets at VND447 trillion, up by 24% against 2022.

Closing the trading session today, March 26, VHM edged up by 0.47% to VND42,750 per share, with a matching volume of more than 4.2 million shares.

Strong cash flow into real estate and bank stocks helped the Hochiminh Stock Exchange regain ground as the VN-Index closed up by 14.35 points.

With gainers tripling decliners by 342 to 139, the benchmark index added 1.13% against the session earlier at 1,282.21 points. Over 941.7 million shares worth nearly VND21.9 trillion changed hands, including 83.2 million shares valued at VND1.9 trillion traded in block deals.

In the VND30 basket, 26 bluechips ended up, with rubber group GVR making the strongest gain, up by 6.3% to VND33,900. With over five million shares traded, it contributed over two points to the main index.

Shares of lenders VPB, HDB, TCB, MBB, VIB and ACB climbed by 1.7% to 3.7%. GEX, HPX, TCH and KBC also rose by between 2.45% and 4.76% with matched volume of 13.7 million to 29.6 million shares.

VND stock led the southern market in terms of liquidity, with nearly 81.9 million shares traded. This was significantly higher than the second most actively traded stock, NVL, which had 49.1 million shares changing hands.

The HNX-Index of the Hanoi Stock Exchange advanced 1.22 points, or 0.50%, to 242.03 points, with 111 winners and 55 losers. There were 82.7 million shares worth more than VND1.6 trillion changing hands on the northern bourse.

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