According to a recent announcement by the Hanoi Stock Exchange (HNX), Thanh Vinh Real Estate Joint Stock Company (Thanh Vinh Real Estate) has released the results of its private placement of bonds with the code TVR32504.
On August 13, 6,000 bonds with a face value of VND 100 million each were issued under the code TVR32504, raising a total of VND 600 billion.
These bonds have a tenor of 72 months and are expected to mature on August 13, 2031. They offer a fixed interest rate of 9.2% per annum, with interest payable at maturity, and include a buyback option.
Data from HNX reveals that this is the fourth batch of bonds issued by Thanh Vinh Real Estate within just one month, bringing the total raised through these offerings to VND 2,000 billion.
On August 1, TNR Stars Thai Hoa, a project developed by Thanh Vinh Real Estate, issued bonds with the code TVR32503 worth VND 300 billion. These bonds have a tenor of 72 months and offer a fixed interest rate of 9.2% per annum, with interest payable at maturity.
Subsequently, on July 23, 2025, Thanh Vinh Real Estate issued bonds with the code TVR32502 worth VND 600 billion. These bonds have a tenor of 84 months, offering a fixed interest rate of 9.2% per annum, and are expected to mature on July 23, 2032.
Prior to that, on July 17, the company issued bonds with the code TVR32501 worth VND 500 billion. These bonds have a tenor of 84 months and offer a fixed interest rate of 9.2% per annum, with interest payable at maturity.
Thanh Vinh Real Estate is the developer of TNR Stars Thai Hoa.
Thanh Vinh Real Estate is known for its TNR Stars Thai Hoa project, located in the Long Son Urban Area in Long Son ward, Thai Hoa town (formerly known as Thai Hoa district), Nghe An province.
TNR Stars Thai Hoa is part of a larger project that spans an area of 28.96 hectares, with a construction density of 44%. It features a range of property types, including shophouses, shopvillas, townhouses, and villas, spread across two subdivisions: Long Son and Thien Long.
The Long Son subdivision covers an area of 23,821 square meters and comprises 110 lots of shophouses and townhouses, ranging from 126 to 172 square meters in size.
The Thien Long subdivision, on the other hand, spans 56,874 square meters and features pedestrian walkways connecting the internal landscapes. It offers 116 shophouse and townhouse lots, 54 twin villas, and 20 detached villas.
According to our research, Thanh Vinh Real Estate was established in October 2018, with its headquarters located in the Nghe An Provincial Post Office building at 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 Hano-Vid Real Estate Joint Stock Company (Hano-Vid), holding a 90% stake, along with General Director Le Duc Dong 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.
As of January 2022, Mr. Nguyen Huy Hoang took on the role of 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, Thanh Vinh Real Estate and TNR Holdings Vietnam Real Estate Joint Stock Company (a member of TNG Holdings Vietnam, now known as ROX Group) signed Contract No. 206/HĐ/TNR-TV for the transfer of 29 villas in the Project of Residential Area in the Center of Politics-Administration and Trade Services, urban and residential areas of Tra Vinh province (formerly).
On January 14, 2025, Thanh Vinh Real Estate and TNR Holdings Vietnam Real Estate Joint Stock Company (TNR Holdings Vietnam) signed the Capital Contribution Transfer Contract No. 1401/2025/HĐCNPVG/TNR-TV, transferring 99.586% of the capital contribution at Oleco-NQ Company.
Following this transaction, Thanh Vinh Real Estate became the parent company, holding 99.586% of the charter capital (equivalent to VND 684.5 billion of capital contribution) in Oleco-NQ Limited Liability Company.
Mr. Nguyen Huy Hoang, the General Director of Thanh Vinh Real Estate, also acts as the representative of the entire capital contribution at Oleco-NQ Company. In March 2025, Thanh Vinh Real Estate used this entire capital contribution as collateral at a bank.
Additionally, Thanh Vinh Real Estate drew attention as a major shareholder, holding over 5% of the shares in the Vietnam Maritime Commercial Joint Stock Bank (MSB) during the 2022-2023 period. However, the company has since divested its holdings in MSB.
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