Becamex IDC to purchase 62.7 million additional shares of Becamex IJC
Becamex IDC to purchase 62.7 million additional shares of Becamex IJC
The Industrial Development and Investment Corporation (Becamex IDC or BCM) has announced its intention to purchase 62.7 million additional shares of Becamex Infrastructure Development Joint Stock Company (Becamex IJC).
As of the end of 2023, Becamex IDC's total assets reached VNĐ53.8 trillion (approximately US$2 billion), an increase of VNĐ5 trillion compared to the beginning of the year. — Photo Becamex IDC |
Becamex IJC plans to offer nearly 125.9 million additional shares with a 100:50 allocation ratio, meaning that existing shareholders owning 100 IJC shares (at the record date) will be entitled to purchase 50 new IJC shares at a price of VNĐ10,000 per share.
IJC shares closed Thursday at VNĐ15,000 (US$0061) per share, representing a 50 per cent premium over the offering price.
Currently, Becamex IDC holds 125.3 million IJC shares, or 49.76 per cent of Becamex IJC's charter capital, which means the company has the right to purchase a maximum of 62.7 million additional IJC shares, with an estimated total cost of VNĐ626.6 billion ($25.6 million). Upon completion of the deal, Becamex IJC is poised to raise approximately VNĐ1.26 trillion, resulting in an increase in its charter capital to VNĐ3.7 trillion.
Becamex IJC has a plan to allocate the proceeds worth VNĐ466 billion to establish Becamex Infrastructure Development Joint Stock Company-Bình Phước, and VNĐ619.5 billion will be used to repay principal and interest on loans from banks. The remaining funds will be utilised for bond principal and interest payments, late dividend payments to Becamex IDC, and business capital supplementation.
In 2023, Becamex IDC reported a total revenue of VNĐ8.2 trillion and a net profit of VNĐ2.4 trillion, increases of 23 per cent and 43.6 per cent, respectively, compared to the same period of the previous year. Its total assets reached VNĐ53.8 trillion ($2.2 billion) by year-end, up VNĐ5 trillion compared to the beginning of the year.
