On March 12th, Hung Thinh Phat Joint Stock Company (abbreviated as Hung Thinh Phat) successfully issued a bond series with the code HTPCH2327001 for individuals and professional organizations, with a volume of 28,880 bonds and a face value of 100 million dong per bond, equivalent to a value of 2,888 billion dong. The bond was issued on December 31st, 2023, with a term of 4 years until December 31st, 2027, and held by HD Securities JSC (HDBS).
According to data from HNX, HTPCH2327001 is a non-convertible, non-warrant bond with collateral, an interest rate of 12% per year, and pays interest every 6 months at the end of the term. This is also the only bond series circulating from Hung Thinh Phat.
Who is Hung Thinh Phat?
Hung Thinh Phat was established on October 13th, 2021, initially operating in the field of civil and industrial construction as a limited liability company with a charter capital of 30 billion dong, contributed by Mr. Lam Ky Dieu (holding the position of Chairman of the Board of Directors cum CEO and legal representative) contributed 70% and Mr. Pham Van Ngoc contributed 30%. In November 2022, Ms. Nguyen Thi Le Thuy replaced Mr. Ngoc’s 30% capital contribution.
On December 19th, 2023, about 2 weeks before the issuance of bond series HTPCH2327001, Hung Thinh Phat changed its operating model to a joint stock company and changed its main business sector to real estate business, the right to use land owned, managed or leased. The company also increased its charter capital to 940 billion dong, with changes in ownership structure, with Ms. Nguyen Thi Anh Thu holding 46.81%, Mr. Nguyen Dinh Ngoc holding 45.74%, Mr. Le Khoi holding 4.26%. The remaining two existing shareholders did not contribute additional capital, so their ownership percentages decreased to 2.23% for Mr. Lam Ky Dieu and 0.96% for Ms. Nguyen Thi Le Thuy. The CEO cum legal representative changed to Mr. Ngoc.
After the bond issuance, on January 9th, 2024, Hung Thinh Phat increased its charter capital to 1,200 billion dong, and the shareholders’ structure was not publicly disclosed.
Connection with Danh Khoi
In the list of shareholders of Hung Thinh Phat, Ms. Nguyen Thi Anh Thu and Mr. Nguyen Dinh Ngoc have connections with Danh Khoi Group Joint Stock Company (HNX: NRC).
Ms. Thu is currently the Chairwoman of the Board of Directors cum legal representative of GDK Real Estate Company Limited (charter capital of 340 billion dong as of December 9th, 2020). Mr. Ngoc is currently the Chairman of the Board of Directors cum legal representative of ADK Real Estate Joint Stock Company (charter capital of 530 billion dong as of January 14th, 2021).
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List of related parties of NRC as of the end of 2023
Source: NRC’s 4th quarter financial statements
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