Vingroup JSC (VIC) has announced a resolution by its Board of Directors to utilize the Group’s owned assets as security for the bond obligations of Vinhomes JSC (VHM). The bonds, with a total face value not exceeding VND 4,000 billion, are planned to be issued privately in multiple tranches by Vinhomes.
Vingroup’s Board has authorized the CEO, legal representative, or their authorized representative to decide on the specifics of the assets to be pledged for each bond tranche issued by Vinhomes. They will also be responsible for signing and executing relevant contracts or agreements, in alignment with the Board’s approval and legal regulations.
Earlier in October, Vingroup had approved a resolution to provide payment guarantees and utilize the Group’s assets as security for bonds issued by its subsidiary, with a maximum total face value of VND 6,500 billion.
Subsequently, another Vingroup subsidiary, VinFast Manufacturing and Trading JSC, successfully issued two bond tranches, raising VND 6,000 billion at an interest rate of 13.5%. The first tranche, VIFCB2429002, has a maturity of five years and will mature on October 18, 2029. The second tranche, VIFCB2426001, has a two-year term and will mature on October 10, 2026.
Turning to Vinhomes, the company is in the midst of executing the largest share repurchase in the history of Vietnam’s stock market. Vinhomes aims to buy back up to 370 million treasury shares, citing that the current market price of VHM shares is lower than the company’s actual value. This repurchase is intended to safeguard the interests of the company and its shareholders.
The transaction is being conducted through matching and/or negotiated contracts from October 23 to November 21, 2024. As per regulations, Vinhomes will purchase a minimum of 11.1 million shares and a maximum of 37 million shares daily during the trading period. As of now, Vinhomes (VHM) has successfully acquired over 57 million treasury shares, accounting for 15.43% of the registered amount.
In the market, VHM shares have declined by 11% since the commencement of the share repurchase, currently trading at VND 42,750 per share. Nonetheless, this price still represents a 24% premium over the historical low witnessed in early August, when the share buyback plans were initially revealed. The corresponding market capitalization stands at VND 186 trillion.
“Vinhomes Stock Volatile after Initiating Share Repurchase Program”
The VHM’s market capitalization witnessed a swift decline of over VND 19 trillion in just two sessions, settling at approximately VND 191 trillion.
“A Favorite Among Investors: PNJ Ranked in Top 3 for 2024”
PNJ has been voted as the Best Investor Relations Company among large-cap enterprises in 2024. This recognition is a testament to our unwavering commitment to adhering to information disclosure regulations and safeguarding the rights and interests of our shareholders.
The Gourmet Chairman Pledges $4 Million to Buy HNF Shares
Mr. Trinh Trung Quyet, Chairman of the Board of Directors of Huu Nghi Food JSC, has announced his intention to purchase an additional 3.5 million HNF shares, increasing his ownership stake to 39.09%. This move underscores Mr. Quyet’s confidence in the company’s prospects and his commitment to its long-term growth. With a strong track record in the food industry, Huu Nghi Food JSC is well-positioned for success, and Mr. Quyet’s increased investment highlights the company’s potential for expansion and profitability.
The Rewards of Being a Viettel Construction (CTR) Shareholder: A Whopping 310 Billion VND Dividend Payout Awaits
Viettel Group is set to reap over VND 204 billion from this dividend payout.
