Workers process shrimps at a plant of Camimex. — VNA/VNS Photo

HÀ NỘI – Camimex Group JSC (CMX) has just approved the plan to issue bonds worth VNĐ300 billion (US$12.7 million). 

The batch of three-year bonds is non-convertible without warrants, but has collateral. And it is expected to be released this year. 

Camimex Group is known as one of the world's first organic shrimp producers and is the only Vietnamese producer that presently complies with Naturland, EU Organic, and BIO SUISSE organic standards.

Previously, the company issued a batch of two-year bonds with the code of CMXH2123001 in October 2021 and due on October 22 this year. They are also non-warranty, non-convertible, and secured bonds.

The whole batch was issued to foreign institutional investors, which were three funds of ASAM Vietnam.

All the money raised from the issuance was spent to buy raw materials, expand production, and increase working capital.

In the first quarter of 2023, Camimex reported revenue of VNĐ242 billion and a net profit of VNĐ23 billion, down 48 per cent and 8 per cent over the same period last year, respectively. As a result, the company has accomplished 8 per cent of the revenue objective and 22 per cent of the yearly profit target.

This year, Camimex Group expects to export 10,000 tonnes of finished goods with a total export turnover of $100 million. The European Union (EU) is currently the company's largest export market. The business also plans to expand the ecological shrimp farming area to 20,000 hectares.

SSI Securities Corporation said that despite many challenges, seafood export businesses will start to see improvement in profits in the second half of 2023, thanks to lower costs including both raw materials and shipping.

On the stock market, CMX ended Tuesday at VNĐ10,300 a share, an increase of 26.5 per cent from the beginning of the year. — VNS