DPG Corporation (code DPG-HOSE) announces the Board of Directors’ resolution to repurchase all outstanding bonds.
Specifically, DPG will repurchase all bonds of DPG12101 code (issued on October 28, 2021, due on October 28, 2024, interest rate of 10.5% per year). The bond has a face value of 300 billion VND, with 100 billion VND already repurchased and the remaining outstanding debt of 200 billion VND. The repurchase period is scheduled from May 24 to June 24.
The source of funds for repurchasing comes from the cash flow of production and business activities.
According to the financial report for the fourth quarter of 2023, DPG’s revenue reached 1,423 billion VND, a 30% increase compared to the same period last year (1,094 billion VND), and after-tax profit reached 121 billion VND, a 15% decrease compared to the same period last year (143 billion VND). Accumulated for the year 2023, DPG’s revenue reached 3,450 billion VND, a 4% increase compared to the previous year (3,319 billion VND), and after-tax profit reached 288.8 billion VND, a 44% decrease compared to the previous year (519 billion VND).
In 2023, DPG sets a target of 3,436 billion VND in revenue and 287.6 billion VND in after-tax profit. Therefore, the company has simultaneously exceeded the target of revenue and profit by 0.4%.
As of December 31, 2023, DPG’s total assets reached 6,698 billion VND, a 9% increase compared to the beginning of the year (6,139 billion VND). Cash and cash equivalents reached 1,272 billion VND, an 8% increase; bank deposits in the “investment held until maturity” account reached 379 billion VND, an 85% increase.
Inventory for the past year increased by 1.2%, amounting to 1,105 billion VND; payable debt increased by 10% to 4,342 billion VND; Shareholders’ equity reached 2,356 billion VND, a 6.7% increase compared to the beginning of the year; undistributed after-tax profit increased from 1,015 billion to 1,158 billion VND.
According to the accompanying notes to the financial statements, DPG recorded a short-term bond debt with a value of 200 billion VND, which is a bond issued with the collateral of 19 million DPG shares owned by the company’s management board. Among them, the capital raised from the bond issuance was provided to Dat Phuong Hoi An Joint Stock Company (a subsidiary) to implement the Co Thanh Urban Area project, Cam Thanh commune, Hoi An city, Quang Nam province.
It is known that on March 20, DPG will finalize the list of shareholders attending the company’s annual general meeting in 2024, which is scheduled to be held in April 2024.
As of the closing of the trading session on March 15, DPG’s stock increased by 1,200 VND to 41,750 VND per share, a 4.77% increase over the past 5 sessions.
