Bamboo Capital Joint Stock Company (BCG) has just sent the report on the results of the offering to the existing shareholders to the State Securities Commission. Accordingly, BCG successfully issued 148 million shares, bringing in more than VND 1,785 billion, thereby raising its charter capital to more than 4,463 billion dong.
In term of capital efficiency, BCG is the leading renewable energy stock with 13.74% ROE.
BCG issued 148,768,587 additional shares at the price of VND 12,000/share, and the exercise ratio was 2:1. Right after the issuance, 97,29% of the shares were sold, the remaining 2,7% were sold soon after the first phase. In short, 148,768,263 shares, equivalent to 99.99%, were traded.
After the successful issuance, Mr. Nguyen Ho Nam and Helios Service and Investment JSC are still the two largest shareholders of BCG, holding 78.705.043 million (17.63%) and 30.902.725 million (6.92%) BCG shares, respectively.
BCG also just reported the successful issuance of 500 billion dong worth of bonds. This is the first time BCG has issued bonds to the public. According to the report, institutional investors accounted for 97.12%; individual investors, 2.88%.
BCG has sold out of 5,000,000 offered bonds (100%). They are expected to lend VND 247 billion to Dong Thanh 2 Wind Power Co., Ltd; and VND 253 billion to BCG Wind Soc Trang Joint Stock Company to invest in wind power projects in Tra Vinh and Soc Trang provinces.
In 2021, BCG exceeded the profit objective approved by the General Meeting of Shareholders. This year, BCG is going to submit to the General Meeting of Shareholders a plan to increase capital to VND 10,000 billion in order to improve financial capacity, boost business growth, and balance the total assets worth more than VND 35,000 billion.
Recently, Mr. Pham Minh Tuan - BCG's deputy chairman said: “BCG is going to reach higher profit than its initial plan at the Annual General Meeting in 2021 (according to the previous plan, it is expected to reach 971.5 billion dong after-tax profit this year). Because The Malibu Hoi An project handover is delayed to 2022 so this year will see record-high revenue from the real estate segment.
Previously, TRACODI (HoSE: TCD), one of BCG’s subsidiary companies also successfully issued 87.2 million shares to its existing shareholders, raising its charter capital to more than 1,744 billion dong. In a recent report, BSC said that TCD's profit from its construction segment in 2022 will increase sharply by 57% compared to the prior year.
Commenting on the potential growth of BCG and TRACODI, Mr. Pham Minh Tuan said that both are in the group of businesses that benefit from policies which encourage clean energy development and infrastructure investment. "The company's effective business strategy coupled with favorable macroeconomic factors will help BCG and TRACODI keep stable growth in the next coming years." – Mr. Tuan said.
In 2022, BCG also aims to list the subsidiary company, which operating in the furniture manufacturing industry, Nguyen Hoang, on Upcom. Furthermore, AAA Insurance Joint Stock Company, of which BCG is the largest shareholder, has just announced an ambitious plan for listing on the stock market within the next 3 years.