SSIAM and foreign investment funds participate in the issuance of HAH’s 500 billion dong bonds

On February 28, 2024, Hai An Transport and Stevedoring Joint Stock Company (HAH) signed a cooperation agreement with major domestic and foreign investment funds, including the Development Bank of Japan (DBJ), Daiwa Corporate Investment, Mercuria Investment, and SSI Asset Management Company Limited (SSIAM).

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HAH successfully issued VND 500 billion convertible bonds privately to fund partners

SSIAM together with the advisory firm, SSI Securities Corporation (HOSE: SSI), lead the investment deal for HAH to successfully issue VND 500 billion convertible bonds privately. The four participating investors include: Japan South East Asia Finance Fund III L.P. (JSEAFF), Daiwa-SSIAM Vietnam Growth Fund III L.P. (DSVGF), Vietnam Growth Investment Fund L.P (VGIF), and SSIAM.

4 investors purchase VND 500 billion bonds of HAH

This investment deal marks the first successful mobilization of capital for HAH through the issuance of convertible bonds and the start of cooperation with fund management partners, leading financial institutions both domestically and internationally.

As the lead investor, SSIAM represented major international institutions, including Development Bank of Japan (DBJ), Daiwa Securities (Japan), CP Group (Thailand), to structure the investment, negotiate terms, and resolve issues that arise.

A representative from SSIAM stated that import/export activities in Vietnam will continue to grow strongly and become the main driving force for the maritime transport industry. Therefore, the demand for maritime transport has already passed its lowest point, while the supply of new vessels of relatively small sizes remains stable.

In light of this situation, HAH aims to build a strong fleet to increase domestic transport capacity and expand intra-Asia transport routes. Currently, HAH is the leading maritime transport company in Vietnam, with an integrated maritime value chain including transport, ports, warehouses, and related services.

By 2024, HAH plans to increase its total capacity by 45% compared to the current level, opening up opportunities to connect with new domestic and international routes.

Representative of the investor consortium, Ms. Nguyen Ngoc Anh – CEO of SSIAM, stated that both SSIAM and the participating investment funds highly appreciate the potential of HAI AN and desire to become long-term investors in this company.

Dong Tu

SOURCEvietstock
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