Becamex IDC, one of the leading industrial development corporations in Vietnam, has recently announced its plans to issue private placement bonds in 2025. According to the resolution, the company aims to issue a maximum of 25,000 bonds, each with a face value of VND 100 million, raising up to VND 2,500 billion.
The bonds will be issued in the form of book-entry registration, in up to 10 tranches. Each tranche will have a maturity of 3-5 years, with the issuance period spanning from June to September 2025 for 6-7 tranches, and from October to November 2025 for the remaining 2-3 tranches.
These bonds are non-convertible and do not come with warrants. They are secured by assets and will be offered in the domestic market.
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In other news, Becamex IDC has also approved a plan to issue bonus shares to pay dividends for the year 2024, as agreed upon at the 2025 Annual General Meeting of Shareholders. The company intends to issue 113.85 million shares, equivalent to 11% of the total outstanding shares. The ratio for implementing the rights is 100:11, meaning that for every 100 shares owned, shareholders will receive 11 new shares.
The capital source for this issuance will come from undistributed post-tax profits on the audited financial statements for the year 2024. The expected timeline for this issuance is the second and third quarters of 2025.
Regarding its business performance in the first quarter of 2025, Becamex IDC recorded impressive results with consolidated revenue reaching nearly VND 1,843 billion, more than doubling the figure from the same period last year. Despite a significant increase in cost of goods sold, gross profit still managed to grow by 23% to VND 704 billion.
The real estate segment contributed significantly to this performance, generating nearly VND 1,427 billion in revenue, a 3.2-fold increase compared to the previous year. Financial income also saw a remarkable surge, reaching VND 102 billion, a 38-fold increase, thanks to profits from cooperation contracts and dividends. Additionally, the company’s share of profits from joint ventures and associates amounted to VND 271 billion, a 4.5-fold increase year-over-year.
Despite higher expenses, net income for the period remained robust, surpassing VND 358 billion, triple the amount from the first quarter of 2024.
Looking ahead, Becamex IDC has set ambitious consolidated business targets for 2025, aiming for a total revenue of VND 9,500 billion, representing a 29% year-over-year increase. The company also forecasts a net income of VND 2,470 billion, a modest 3% rise compared to the previous year’s performance.
