VCI repurchases over $21 million unmatured bonds
VCI repurchases over $21 million unmatured bonds
Viet Capital Securities JSC (VCI) just announced the repurchase of bonds prior to maturity, which were issued in 2020.Accordingly, the securities firm agreed to buy back 50,000 bonds, worth VND500 billion (US$21.7 million). The deal will be carried out 10 days after the announcement, starting from July 7 to July 12.
VCI has raised over VND1.35 trillion through bond issuance since the beginning of the year to increase the size of working capital. Of which, it will divide the fund to supplement capital for government bond business activities, pay expenses related to the bond issuance, and supplement regular operating capital.
On June 21, VCI also completed the issuance of 166.5 million shares. Therefore, the company's charter capital doubled from nearly VND1.67 trillion to VND3.33 trillion.
Issuance rate was 1:1, meaning shareholders with one share will receive one new share. Issuing value at par value of nearly VND1.67 trillion.
In 2021, the company set a target of VND2.05 trillion in revenue and VND1.25 trillion in profit after tax, up 18.5 per cent and more than 31 per cent, respectively, compared to the previous year.
The forecasted numbers were based on the current situation of the stock market and expectation that the VN-Index will hover around 1,250 points at the end of this year.
VCI said that the main driving force of the global economy in 2021 is that the pandemic is brought under control. COVID-19 will gradually be contained with the production and distribution of vaccines in many countries around the world this year, including Viet Nam.
On the Ho Chi Minh Stock Exchange (HoSE), VCI shares were traded at VND53,000 per share yesterday.
