Bamboo Capital Group issuing an additional 148 million shares for existing shareholders


(BCG) On November 23rd, 2021 - BCG announced the certificate of registration for the public offering of shares. Accordingly, BCG will issue 148,768,587 additional shares at the price of 12,000 VND/share. If the issuance is successful, BCG is expected to collect more than 1,785 billion VND.

The exercise ratio is 2:1, which means at the closing date, a shareholder owning 01 share will receive 01 right to purchase additionally issued shares, for every 02 purchase rights, they will be able to buy 01 new additionally issued shares. After this offering, the charter capital of BCG is expected to increase up to 4,463 billion VND. The registration due is 07/12/2021.

The issuance of additional shares aims to improve financial capacity, commensurate with the current gross asset value of BCG, as well as distripute capital for production and business activities.

The solar energy projects are generating stable cash flow for BCG.

The period of transferring share purchase rights is from December 14, 2021 to January 10, 2022. The purchase right is only allowed to be transferred once and cannot be transferred to a third person. The registration and payment period will last from December 14, 2021 to January 14, 2022.

In January 2021, BCG successfully issued 68 million shares with the offering price of 10,000 VND/share to existing shareholders to invest in renewable energy and real estate projects.

In the third quarter of 2021, BCG's net revenue reached 457 billion VND, decreased 41.5% compared to the same period last year, however, gross profit margin improved sharply, increasing from 40% to 94%. Profit after tax increased by 186% from 76 billion VND in the third quarter of 2020 to 218 billion VND in the third quarter of 2021, equivalent to EPS of 9 months of 2021 reaching 2,208 VND.

Accumulated 9 months of 2021, BCG's net revenue reached 1,904 billion VND, rose 112.7% over the same period, profit after tax reached 701.2 billion VND, increased 6.8 times higher than the same period in 2020.

BCG’s stock chart on 11/23/2021

In 2021, BCG sets an ambitious plan with an increase of 289.76% in consolidated revenue, reaching 5,375 billion VND; an increase of 302.5% in pre-tax profit which is more than 1,008 billion VND, and an increase of 302.7% in consolidated profit after tax which is more than 806.4 billion VND compared to 2020.

Thus, with the results in the first 9 months of the year, BCG has completed 87% of the profit plan.

In addition to solar projects that have been operating since the end of 2020, BCG is still implementing rooftop solar power projects in export processing zones and industrial parks, as well as accelerating wind power projects.

BCG Energy - a subsidiary of BCG - signed a $400 million cooperation agreement with Siemens Gamesa Renewable Energy at the end of October 2021. Accordingly, Siemens Gamesa will provide equipment and technical solutions for BCG Energy to implement the roadmap for the construction of wind power projects with a total capacity of more than 500 MW in Vietnam in the next few years.

On the stock market, the BCG’s closing price on November 23 was at 27,450 VND/share which is 2.3 times higher than the price of 12,000 VND/share offered to existing shareholders.