According to the Hanoi Stock Exchange (HNX), IPA Investment Group Joint Stock Company (Stock Code: IPA) has officially announced the results of its corporate bond issuance.
Specifically, on November 18, 2025, IPA successfully issued 14,160 domestic bonds under the code IPA12501. With a face value of VND 100 million per bond, the total issuance value reached VND 1,416 billion, featuring a 5-year term and a maturity date of November 18, 2030.
As recorded on HNX, this marks IPA’s first bond issuance of 2025 to date, with a fixed annual interest rate of 9.5%.
Previously, IPA’s Board of Directors approved Resolution No. 180/2025/NQ-HĐQT on November 14, 2025, outlining the private bond issuance plan for 2025, matching the volume and value of the aforementioned bond series.
These non-convertible, warrant-free, unsecured bonds are not classified as subordinated debt. The 5-year issuance carries a fixed nominal interest rate of 9.5% per annum.
IPA plans to allocate the entire proceeds from the bond sale to execute its investment program by acquiring additional shares issued to existing shareholders of IPAF Investment Joint Stock Company (IPAF).
Under the bond issuance plan, IPAF will utilize the funds raised from the share sale to acquire controlling stakes in companies operating in finance, insurance, banking, and securities. This strategy aims to indirectly hold listed stocks in these sectors, generating revenue and profits for the issuer. Details are as follows:
Source: IPA
According to data, recently established companies—ICapital, IGrowth Capital, IValue, IProsper, and IVision (founded 1-2 months ago, with one incorporated on November 15, 2025)—share a common profile: VND 20 billion in charter capital, three individual shareholders (one holding 99.99% ownership), and a primary business focus on management consulting services.
In related developments, IPA’s Board of Directors has approved a resolution to purchase additional shares issued by IPAF.
The resolution authorizes IPA to acquire 141.6 million additional shares from IPAF’s existing shareholders at a purchase price of VND 10,000 per share, totaling VND 1,416 billion.
If the transaction proceeds as planned, IPA’s ownership in IPAF will increase to 151.68 million shares. The acquisition is expected to be completed in November 2025, following IPAF’s official notification.
IPA’s Q3/2025 consolidated financial report indicates that, as of September 30, 2025, IPAF is a subsidiary with IPA holding 99.9% of its equity interest.
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