A corner of Vinpearl Phu Quoc (Photo: VNA)Hanoi (VNA) – Vietnam’s largest private conglomerate Vingroup isplanning to seek its shareholders’ approval to raise 500 million USD fromissuing unsecured bonds on the Singapore Exchange (SGX).
The issuance is expected to be carried out in 2021, depending on marketconditions, and approval from competent authorities. The money raised will beused to pay debts, and pump up capital for its business activities.
Over a decade ago, Vingroup’s Vincom JSC debuted on the international debtcapital market, with a 100 million USD issuance of bonds on the SGX.
In March 2012, following the merge of Vincom and Vinpearl, Vingroup mobilised185 million USD worth of international bonds on the exchange.
Within seven years, Vingroup carried out over 18 transactions in both capitaland debt markets, gaining more than 7.8 billion USD.
Total asset value of the group reached over 424.26 trillion VND (18.38 billion USD)by the end of 2020, 5 percent higher than the amount recorded on the outset ofthe year. The group’s revenue topped 110.46 trillion VND, falling 15 percentfrom the previous year./.
VNA
