Construction firm to raise US$50 million from bond sale
Hoa Binh Construction Group JSC (Hoa Binh Group) plans to raise US$50 million from a corporate bond sale to settle short-term debts, increase working capital and invest in overseas projects.
The plan will be submitted to shareholders at the next annual meeting for approval.
In the first six months of 2019, the company had VND15.9 trillion in total assets, up by VND28 billion from the beginning of the year.
Total payables fell by VND624 billion to VND12.35 trillion. The figure included VND4.2 trillion worth of short-term bank loans and VND277 billion in long-term bank loans.
Hoa Binh Group on September 26 set up a joint-venture investment fund with the Singaporean firm Infinity Blockchain Group (BIG) to target real estate projects in Viet Nam and other markets.
Hoa Binh Group is listed on the Ho Chi Minh Stock Exchange as HBC. Its shares fell 1.1 per cent to close Thursday at VND13,650.