Vingroup offers 525 million USD of bonds to the international market in May
Vingroup (HoSE ticker: VIC) has just announced the issuance of the first phase of bonds to the international market in 2022, with a total value of 525 million USD, offering price of 1 million USD/bond. Time is estimated in May 2022.
This bond lot is part of the group’s plan to issue up to 1.5 billion USD of many bonds, which has been approved by VinGroup’s Board of Directors recently. With each bond with a term of 5 years, the bondholder will be given the option to receive shares of VinFast owned by Vingroup.
The raised capital, in addition to paying fees and expenses for the issuance of bonds, will be invested by Vingroup in developing VinFast to develop its car production complex.
The bond batch was scheduled to be issued in the first quarter of 2022 before being de-scheduled and divided into two phases.
At the end of the first quarter, Vingroup achieved revenue of VND 18,200 billion, of which VinFast’s production segment contributed VND 3,300 billion.
Previously, VinFast Trading & Investment Pte. Ltd – a subsidiary of Vingroup based in Singapore has submitted an application for an initial public offering of shares to the US Securities and Exchange Commission (SEC).
The IPO is expected to raise about $2 billion. If successful, this will be one of the two largest IPOs of an Asian company on the US floor.
Vingroup (VIC) profit after tax is 512 billion dong in the first quarter of 2022
at Blogtuan.info – Source: Soha.vn – Read the original article here
