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. The issuance is scheduled to take place from June to September 2025, with 6-7 tranches, and from October to November 2025, with 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 only.
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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 circulating 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 for this issuance will come from undistributed post-tax profits on the audited financial statements for 2024. The expected timeline for the implementation 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 of nearly VND 1,843 billion, more than double that of the same period last year. Despite a significant increase in cost of goods sold, gross profit still managed to increase by 23% to VND 704 billion.
The real estate segment contributed significantly to the revenue, bringing in nearly VND 1,427 billion, 3.2 times higher than 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 earned VND 271 billion from its joint ventures and associates, a 4.5-fold increase compared to the same period last year.
Despite higher expenses, net profit for the period remained robust at over VND 358 billion, triple that of 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, a 29% increase from 2024, and a net profit of VND 2,470 billion, a 3% improvement from the previous year’s performance.
