Real estate company quietly releases bonds worth nearly 2,900 billion Vietnamese dong

With just 2 years of establishment and relative obscurity in the market, Hung Thinh Phat has surprised everyone by successfully raising 2,888 billion VND through bond financing.

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Hanoi Stock Exchange (HNX) has announced the notice of Hung Thinh Phat General Development Joint Stock Company (Hung Thinh Phat) about the completion of issuing the HTPCH2327001 bond lot.

Source: HNX

Specifically, Hung Thinh Phat issued this bond lot in the domestic market, with a volume of 28,880 bonds, a par value of 100 million dong/bond, and a total issuance value of 2,888 billion dong.

The issuance date is December 31, 2023, and the completion date is March 6, 2024. With a term of 4 years, the bond lot will mature on December 31, 2027.

This is the first bond issuance of this company. Being newly established for over 2 years and relatively unknown in the market, Hung Thinh Phat has surprised by successfully raising 2,888 billion dong through the bond channel.

According to research, Hung Thinh Phat was established on October 13, 2021, with its head office at 119 Truong Van Bang, Thanh My Loi Ward, Thu Duc City, Ho Chi Minh City.

The initial charter capital of this company was 30 billion dong, with 2 capital-contributing members: Lam Ky Dieu (70%) and Nguyen Van Ngoc (30%).

At this time, Mr. Lam Ky Dieu (born in 1974) is the Chairman of the Board of Directors, General Director, and Legal Representative of the company.

In November 2022, 30% of the capital contributed to Hung Thinh Phat by Mr. Nguyen Van Ngoc was transferred to Ms. Nguyen Thi Le Thuy.

By December 2023, the charter capital of Hung Thinh Phat increased to 940 billion dong. Specifically, Mr. Lam Ky Dieu reduced his ownership to 2.23%; Ms. Nguyen Thi Le Thuy 0.96%; Mr. Nguyen Dinh Ngoc 45.74%; Mr. Le Khoi 4.26%, and Ms. Nguyen Thi Anh Thu 46.81%.

The legal representative of the company is General Director Nguyen Dinh Ngoc (born in 1974).

Just 1 month later, in January 2024, Hung Thinh Phat continued to increase its capital to 1,200 billion dong. At this time, the shareholder structure was not disclosed.