tải fun88邀请码Novaland lists convertible bonds in Singapore

Novaland lists convertible bonds in Singapore

Victoria Village, a new housing project being developed in HCM City’s District  二 by Novaland. — VNS Photo

HCM CITY — Property developer Novaland Investment Group Corporation on Wednesday announced that it successfully listed its US$ 一 六0 million offering of convertible bonds on the Singapore Exchange Limited last week.

This is the first Vietnamese convertible bond listing on an international stock market in six years, it said.

The issue attracted interest from many investors in Asia and Europe, it said.

The US-dollar denominated unsubordinated convertible bonds due in  二0 二 三 will be converted into ordinary shares of the company at an initial conversion price of VNĐ 七 四, 七 五0. The bonds, issued at par, carry a coupon of  五. 五 per cent payable semi-annually in arrears and a yield to maturity of  六. 二 五 per cent. 

Novaland also successfully raised $ 一 五0 million from an equity placement, taking the total capital raised to $ 三 一0 million. It is the largest ever issuance by a Vietnamese company involving a concurrent equity placement and convertible bond offering.

The company said it would use the proceeds from the combined offering to further build its land holdings in prime locations and develop housing projects, and for working capital and general corporate purposes.

The company plans to start three new projects this year.

Last week at its annual general meeting, shareholder passed business plans for this year, with expected sales of VNĐ 二 一. 七 八 trillion, after-tax profit of VNĐ 三. 二 trillion, up  八 七 per cent and  五 五 per cent respectively.

Around  六, 五00 units are expected to be handed over this year at  一 一 projects, all of which have sold over  九0 per cent on average. VNS