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Sunday, June 11, 2023

Kinh Bac plans VND1.5-trillion private placement

The Saigon Times

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HCMC – Kinh Bac City Development Holding Corporation (KBC) is set to issue up to 150 million shares via a private placement to mobilize VND1.5 trillion for its business operations and debt restructuring.

The share sale will be announced at its first extraordinary general meeting in 2022 on February 10, Baodautu.vn reported.

The 150 million shares, or 26.33% of its total outstanding shares, will be offered to nearly 100 investors, including organizations and individuals with strong financial health and professional competence.

In related news, Dragon Capital Group, a major shareholder of industrial zone developer Kinh Bac, has purchased 500,000 KBC shares to raise its ownership in the local firm to 7.02% from 6.93%. The transaction was done on January 24.

Closing the session today, January 27, KBC slid 3.85%, extending its losing streak for the second session.

On the Hochiminh Stock Exchange, the VN-Index lost 10.82 points, or 0.73%, from the session earlier, at 1,470.76, with 151 gainers and 291 decliners. Trade volume totaled 564.6 million shares worth VND16.7 trillion changing hands, tumbling by 30.5% and 28.6%, respectively, against the previous session.

Facing the gloomy trading, the HNX-Index of the Hanoi Stock Exchange closed down 0.55 points, or 0.13%, against the day earlier, at 411.27. The northern bourse saw 87 stocks end up and 137 others lose.

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