The Ho Chi Minh City-based real estate developer, Hodeco, has recently announced its plans to convene an extraordinary General Meeting of Shareholders in 2025.
The meeting, scheduled for September 30, 2025, will be held online with electronic voting. It will take place at the Hodeco Plaza, 36 Nguyen Thai Hoc, Ward Tam Thang, Ho Chi Minh City.
Agenda items include adjustments to the profit distribution plan approved at the 2025 Annual General Meeting. Notably, the company proposes to cancel the plan to refund the development fund into undistributed post-tax profits for dividend payments to shareholders.
Illustrative image
Significantly, Hodeco will also propose to shareholders the cancellation of the plan to issue shares for dividend payments for 2024. Instead, the company recommends issuing shares to increase charter capital from owner equity for shareholders.
It is worth noting that during the 2025 Annual General Meeting held in late May 2025, Hodeco shareholders approved a plan to pay 2024 dividends in shares at a ratio of 12%, equivalent to over 21.4 million shares.
In another development, Hodeco has recently resolved to issue private placement bonds in Vietnamese Dong. These non-convertible bonds, without warrants, will have a combination of fixed and floating interest rates, secured by assets, and will establish the company’s direct debt repayment obligation.
With a maximum value of VND 500 billion, the bonds will be offered in two phases in the third quarter of 2025.
Previously, Hodeco also announced the resolution of its Board of Directors, approving the detailed issuance plan, capital usage plan, and listing of convertible bonds for the 2025 public issuance.
Hodeco intends to issue nearly 5 million convertible bonds with the code HDC425001 and a par value of VND 100,000 per bond, totaling nearly VND 500 billion.
These bonds will be offered to existing shareholders through a public offering, as per current legal regulations. They are convertible into common shares, unsecured, and without warrants. The bonds are mandatorily convertible into common shares in two phases: 40% of the total number of successfully issued bonds will be converted within one year from the issuance date, and the remaining bonds will be converted at maturity.
The purpose of issuing these convertible bonds is to restructure Hodeco’s bank loan debts.
