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Construction firm to raise US$50 million from bond sale

Update: October, 11/2019 - 11:25


A real estate project constructed by Hòa Bình Construction Group. The company's shares fell 1.1 per cent to close Thursday at VNĐ13,650.  Photo

HÀ NỘI — Hòa Bình Construction Group JSC (Hòa Bình Group) plans to raise US$50 million from a corporate bond sale to settle short-term debts, increase working capital and invest in overseas projects.

The plan will be submitted to shareholders at the next annual meeting for approval.

In the first six months of 2019, the company had VNĐ15.9 trillion in total assets, up by VNĐ28 billion from the beginning of the year.

Total payables fell by VNĐ624 billion to VNĐ12.35 trillion. The figure included VNĐ4.2 trillion worth of short-term bank loans and VNĐ277 billion in long-term bank loans.

Hòa Bình Group on September 26 set up a joint-venture investment fund with the Singaporean firm Infinity Blockchain Group (BIG) to target real estate projects in Việt Nam and other markets.

Hòa Bình Group is listed on the Hồ Chí Minh Stock Exchange as HBC. Its shares fell 1.1 per cent to close Thursday at VNĐ13,650. — VNS

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