Construction site of a project by BCG Land JSC (BCR). Both Tracodi and BCG Land are subsidiaries of Bamboo Capital Group. — Photo BCR
The Transport and Industry Development Investment Joint Stock Company (Tracodi), coded TCD on the stock market, has used more than 35 million shares it is owning at BCG Land JSC (BCR) as collateral for a loan at Nam Á Bank.
The loan, valued at VNĐ299 billion, was borrowed by Pegas Company Limited. The maximum loan term of this credit is 12 months, with the aim to supplement business capital.
According to Tracodi's 2023 semi-annual reviewed financial report, Pegas has the same executive board members as Tracodi. Both Tracodi and BCG Land are subsidiaries of Bamboo Capital Group (BCG).
According to Tracodi, 35 million shares of BCG Land JSC are worth VNĐ427.2 billion, which means each share of BCG Land is worth VNĐ12,000.
Pegas Company Limited was established in October 2021 and used to be a subsidiary of BCG Land. However, in March 2022, BCG Land sold 90 per cent of charter capital at Pegas with a total transfer price of VNĐ378 billion.
At the end of August 2023, Việt Nam Securities Depository and Clearing Corporation issued a securities registration certificate to BCG Land. Accordingly, 460 million shares of BCG Land will be listed and traded under the stock code BCR on the UPCoM of the Hà Nội Stock Exchange (HNX), corresponding to a registered value of VNĐ4.6 trillion.
In the first six months of this year, BCG Land recorded net revenue of over VNĐ350 billion and net profit of over VNĐ125 billion, down 41 per cent and 76 per cent respectively compared to the same period last year.
As for Tracodi, this construction enterprise is in the process of acquiring a stone quarry with a reserve of 26 million cu.m. It is expected that Tracodi will issue more than 282 million additional shares to existing shareholders at a ratio of 1:1 at VNĐ10,000 per share to mobilise capital for the above deal.
Tracodi expects that the capital increase plan will be approved by the State Securities Commission in the near future. As soon as the capital increase process is completed, the quarry acquisition deal will be implemented. The construction stone segment is expected to be Tracodi's new growth driver in the near future.
On the stock market, Tracodi stock (TCD) price is trading at VNĐ8,060 per share. Compared to the beginning of this year, TCD shares have increased more than 55 per cent. — VNS