Vingroup seeks approval to issue international bonds

The Vietnamese giant that has planned to manufacture electric cars to U.S. market has not announced the money it wants to raise after this bond issuance.

Its shareholders are expected to give opinion between August 8 and September 9. The final date for registration is August 4, according to the statement.

In previous issuance, Vingroup successfully raised fund on the bond international market. between 2013 and 2019, the firm raised a total amount of $7.6 billion in bonds. In 2018 alone, the group mobilized $4.4 billion from issuing international bonds. The money was mainly injected to its member units Vinhomes and VinFast.

In 2020, Vingroup targets VND145 trillion ($6.2 billion) in revenue, up 12 percent on-year and VND5 trillion ($216 million) after-tax profit, down 35 percent from 2019.

The group sets lower profit since the COVID-19 pandemic has been leaving serious impacts on its tourism service arms.

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