VDSC successfully raises over VND 865.5 billion from bonds

03-Dec-2020 Intellasia | NDH | 6:02 AM Print This Post

According to the published information, Viet Dragon Securities Company (VDSC) has successfully issued 865.5 billion dong of bonds through two offering phases.

The first offering took place from July 28th to October 23rd with issuance value of 500 billion dong. The real number of bonds issued in this first issuance was 476,015 bonds with par value of one million dong per unit.

The second offering was carried out from August 28th to November 25th with issuance value of 500 billion dong. The total number of bonds issued in this period was 389.5 bonds with par value of one million dong per unit.

These bonds are on one-year term from the date of issuance and non-convertible with no secured assets. The bonds’ form is bookkeeping. The interest rate will be paid at a fixed rate, not exceeding 9.5 percent per annum until the maturity date of the bonds. The actual issuance interest rate fluctuates from nine to 9.5 percent per annum.

Thus, in the last two issuances, VDSC mobilised more than 865.5 billion dong from bonds.

On November 26th, VDSC’s Board of directors (BOD) approved the purchase of more than 51 percent of equity of Viet Long Securities Investment Fund Management Corporation (VDFM),

Specifically, the minimum purchase rate is 51 percent of VDFM’s equity. VDSC’s BOD Chair was authorised to negotiate and decide the specific rate. He was also authorised to decide the buying price which is expected at 20,000 dong per share.

VDSC had a successful business season in the third quarter of 2020. Its total revenue in the quarter was 89.23 billion dong, up by nine percent compared to Q3 of 2019.

In addition to the revenue growth, the expenses of VDSC in the period also dropped sharply. In the third quarter of 2020, the total expenses of the company reached 43.2 billion, down by more than 38.7 percent over the same period of 2019.

The revenue growth and significant cost reduction are important factors driving the profit growth of VDSC in Q3 2020. By the end of the quarter, the company’s after-tax profit reached more than 37.1 billion dong, up by more than fourfold compared to the same period of 2019. In the first nine months of the year, VDSC recorded more than 50.1 billion dong of after-tax profit, up by 45.6 percent over the same period of last year.


Category: Stocks, Vietnam

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