Mr. Eric Trump, executive vice president of The Trump Organization and Mr. Dang Thanh Tam, chairman of KBC, signed a cooperation agreement witnessed by Mr. Trump on September 25, in Florida (USA) - Photo: KBC
According to the resolution of the Board of Directors of Kinh Bac Urban Development Corporation (KBC) that has just been approved, the company plans to implement a plan to offer 250 million individual shares from the first quarter to the third quarter of next year.
11 investors bought individual shares of Mr. Dang Thanh Tam's company
The dossier submitted to the Securities Commission includes a detailed issuance plan with a list of 11 investors expected to participate in buying shares.
The list includes many large institutional investors such as: DC Developing Markets Strategies Public Limited Fund (of Dragon Capital), Prudential Vietnam Life Insurance Company Limited, SGI Fund, VPBankS Securities, Samsung Vietnam Securities, Vietnam Enterprise, Amersham Industries Limited...
Of which, SGI fund plans to buy more than 48.96 million shares to increase its ownership ratio from 0% to 4.81%. Meanwhile, Prudential Vietnam wants to buy more than 13 million units to increase its ownership to 2.19% after owning nearly 9.3 million shares in KBC.
Most of the remaining institutional investors wanted to buy less than 20 million shares and their ownership ratio after the sale remained below 2%.
Notably, in addition to the group of institutional investors, the list also includes 4 individual professional investors. Each investor is expected to buy 35-39 million KBC shares in the upcoming private offering.
Of which, Ms. Nguyen Hong Nhung is holding more than 503,000 shares, but wants to buy 35 million more units to increase her ownership ratio to 3.49%.
Ms. Nguyen Hoang Thanh Thanh already holds more than 1.85 million shares at KBC, and has now registered to buy an additional 35 million units, expected to increase her ownership to 3.63%.
The largest number is Mr. Pham Khanh Duy when he registered to buy 39 million shares. Meanwhile, Mr. Trinh Bao Duy Tan wants to buy 38 million shares in the upcoming private issuance of KBC.
Group of individual investors plans to spend several thousand billion VND
In the issuance dossier, the lowest expected offering price, according to KBC's calculations, is about VND16,200/share. With this plan, KBC can collect at least VND4,050 billion. But it should be noted that this is the "lowest price".
KBC said that when the Securities Commission fully approves the offering registration documents, the company's Board of Directors will re-determine the appropriate price.
Accordingly, the price offered by KBC will be calculated based on the average closing price of 30 trading sessions immediately preceding the date the Securities Commission approves the application and will not be lower than VND16,200.
On the stock market, each KBC share is currently priced at VND29,350, up nearly 9% after 1 month and up nearly 11% after 1 quarter.
Thus, for group 4 individual investors alone, even with the lowest price option, it would still take nearly 2,400 billion VND to buy 147 million shares.
According to KBC's resolution, the proceeds from the offerings will be used to restructure debts and supplement working capital for business operations.
In the detailed capital usage table attached by KBC, KBC wants to restructure debts up to VND 6,090 billion in 2025.
Of which, 4,428 billion VND is expected to be used to pay off the principal and interest of Saigon Bac Giang Industrial Park JSC, 1,462 billion VND to pay off the principal and interest of Saigon Hai Phong Industrial Park JSC, more than 105 billion VND to pay off the principal of VietinBank loan, and 160 billion VND to supplement working capital...
Mr. Dang Thanh Tam's company's stock price is positive after the handshake with Trump Group.
On the stock market, each KBC share is currently priced at VND29,350, up nearly 9% after 1 month and up nearly 11% after 1 quarter.
KBC shares performed more positively after the company joined hands with Donald Trump's family corporation.
Specifically, in early October this year, KBC announced that the Trump Group would develop a hotel, golf course and residential project through a cooperation agreement with Hung Yen Hotel Services Joint Stock Company. This is a subsidiary of KBC. The project scale is about 1.5 billion USD.
Comment (0)