Low interest for shares of Becamex TDC before launch
Low interest for shares of Becamex TDC before launch
One day before the real estate developer's shares are officially ready for auction, just four investors registered to buy a mere 50,000 of Becamex TDC’s 35 million offered shares.
According to the Ho Chi Minh City Stock Exchange, the auction is expected to take place on February 22. However, to date, the 50,000 registered shares equal merely 0.14 per cent of offered shares.
Despite Becamex TDC's position among the top 10 industrial real estate companies in 2021, as assessed and ranked by Vietnam Report and media partners, its offered shares face the risk of becoming unmarketable.
Meanwhile, Becamex offers these shares at the initial price of VND27,900 ($1.2) per share and is expected to acquire $42.45 million through its sales.
According to its plan, in case these shares are unsold, Becamex will continue to sell the remaining shares to existing shareholders, its employees, and other investors at the selling price, which is not lower than the initial price.
According to its 2021 financial statement published on February 8, the group reported a decrease in after-tax profits in the fourth quarter by 62 per cent on-year to VND331.5 billion ($14.4 million).
For the whole year, the company's revenues were VND6.95 trillion ($302.17 million), up 7 per cent on-year. Meanwhile, after-tax profits declined by 37 per cent to VND1.37 trillion ($59.56 million).
Inventories account for more than 42 per cent of assets, most of which are expenses for site clearance compensation, investment in infrastructure construction at projects, and real estate goods.
