According to the explanation, Son Ha International Joint Stock Company said that the bond lot SHIH212400 was issued on July 28, 2021 and is due on July 28, 2024. The total value of this bond issue is 280 billion dong.
However, on December 21, 2022, SHI sent Official Letter No. 146/CV-SH about the proposal to buy back SHIH2124001 bonds before maturity and was approved by the bondholder according to Official Letter No. 435/PVIAM-KDT dated 24 December 2022.
Son Ha’s factory in Bac Ninh. (Source: SHI)
According to the agreement of the two parties, SHI will buy back the bonds earlier than the initial issuance plan. Specifically, SHI will buy back bonds in 5 installments, starting from January 18, 2023 and ending on December 29, 2023 (previously July 28, 2024).
On January 18, 2023, SHI repurchased 15% of the bond’s par value, equivalent to VND 42 billion, according to the schedule agreed with the bondholders. This transaction has made information disclosure to the Hanoi Stock Exchange (HNX) and related organizations in accordance with current regulations.
Before like Vietnamese people reported, On February 23, 2023, HNX announced a list of issuers that had published unusual information/reports on request with the content of late payment of interest to bondholders, including SHI.
The official announcement from SHI also states that, on February 24, 2023, the company also issued Official Letter No. 19/CV-SH explaining the above content to HNX, which was posted on the official website of SHI. Son Ha.
On the same day, this official letter was also published by HNX on the information page about corporate bonds.
It is known that Son Ha International Joint Stock Company, owned by Mr. Le Vinh Son, has had 25 years of construction and development, aiming to become a leading multi-industry economic group in Vietnam.
In 2023, Son Ha Group still aims to grow 16% in revenue compared to 2022. It is expected that consolidated revenue in 2023 will reach VND 9,500 billion.
“To achieve this goal, Son Ha has focused on boosting export activities with a target of 40% growth compared to 2022, of which India, the US and the EU are the main markets. faithfully invest in the project to expand the stainless steel pipe factory and the project of Tam Duong and Vinh Phuc industrial zones”, Son Ha informed.