According to a recent announcement by the Hanoi Stock Exchange (HNX), Real Estate Development and Investment JSC Thanh Vinh (BĐS Thành Vinh) has released the offering results for its bonds, coded TVR32503.
The TVR32503 bond issue comprises 3,000 bonds with a face value of VND 100 million each, equivalent to a total issuance value of VND 300 billion.
These bonds were issued on August 1, 2025, with a term of 72 months and a maturity date of August 1, 2031. They offer a fixed interest rate of 9.2% per annum, with interest payable once at maturity.
Data from HNX reveals that this is the third bond issue by BĐS Thành Vinh within a two-week period.
On July 23, 2025, BĐS Thành Vinh issued 6,000 bonds coded TVR32502 with a face value of VND 100 million each, totaling VND 600 billion in issuance value. These bonds have an 84-month term and are expected to mature on July 23, 2032.
Prior to that, on July 17, BĐS Thành Vinh successfully issued 5,000 bonds coded TVR32501 with a face value of VND 100 million each, raising VND 500 billion. This bond issue has an 84-month term and is expected to mature on July 17, 2032. It offers a fixed interest rate of 9.2% per annum, with interest payable once at maturity.
BĐS Thành Vinh is the investor of TNR Stars Thai Hoa.
Regarding the issuer, BĐS Thành Vinh was established in October 2018, with its headquarters located in the Nghe An Provincial Post Office building, No. 2 Nguyen Thi Minh Khai, Hung Binh Ward, Vinh City, Nghe An Province (formerly).
At its inception, the company had a charter capital of VND 20 billion. The founding shareholders included Real Estate Hano-Vid JSC (Hano-Vid) holding 90%, General Director Le Duc Dong with a 5% stake, and Mr. Pham Tien Dat.
In January 2019, the company increased its charter capital to VND 105 billion and then to VND 555 billion in February 2019.
Since January 2022, Mr. Nguyen Huy Hoang has served as the General Director and legal representative of the company. In March 2024, the company further increased its charter capital to VND 905 billion.
According to our records, on October 29, 2024, BĐS Thành Vinh and TNR Holdings Vietnam Real Estate Development and Investment JSC (a member of TNG Holdings Vietnam, now ROX Group) signed Contract No. 206/HĐ/TNR-TV for the transfer of 29 villas in the Project of Residential Area belonging to the Political-Administrative Center and Commercial Services, and Residential Area of Tra Vinh Province (formerly).
On January 14, 2025, BĐS Thành Vinh and TNR Holdings Vietnam Real Estate Development and Investment JSC (TNR Holdings Vietnam) signed the Capital Contribution Transfer Contract No. 1401/2025/HĐCNPVG/TNR-TV, regarding the transfer of 99.586% capital contribution in Oleco-NQ Co., Ltd.
Following the transfer, BĐS Thành Vinh became the parent company, holding 99.586% of the charter capital (equivalent to VND 684.5 billion in capital contribution) in Oleco-NQ Co., Ltd.
Mr. Nguyen Huy Hoang, General Director of BĐS Thành Vinh, also acts as the representative of the entire capital contribution in Oleco-NQ Co., Ltd. In March 2025, BĐS Thành Vinh pledged this entire capital contribution at a bank.
It is worth noting that BĐS Thành Vinh previously attracted attention as a major shareholder, holding over 5% of the shares of Vietnam Maritime Commercial Joint Stock Bank (MSB) during the period of 2022-2023. However, the company has since divested its entire stake in MSB.
BĐS Thành Vinh is also known as the investor of the TNR Stars Thai Hoa project in the Long Son Urban Area, belonging to Long Son Ward, Thai Hoa Town (formerly), Nghe An Province.
TNR Stars Thai Hoa is part of a project with a total area of 28.96 hectares and a construction density of 44%. It is designed with a mix of shophouses, shop villas, adjacent houses, and villas, featuring two subdivisions: Long Son and Thien Long.
The Long Son subdivision spans 23,821 square meters and comprises 110 lots of shophouses and townhouses, ranging from 126 to 172 square meters in area.
The Thien Long subdivision covers 56,874 square meters and features pedestrian streets connecting the internal landscape, including 116 shophouse and townhouse lots, 54 twin villas, and 20 single villas.
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