Sovico Holdings issues bonds worth nearly $559mln in the first 8 months of 2020

Vietnam’s leading multi-sector business group Sovico Holdings raised VND13 trillion ($559 million) bonds in the first eight months of this year.

Data from the Hanoi Stock Exchange shows that, in the period, the business group owned by Billionaire Nguyen Thi Phuong Thao issued 90 lots of bonds with a total value of VND13 trillion.

In August alone, Sovico raised VND3 trillion ($128.6 million) from bond issuing.

All of the issued bonds are redeemed by domestic organizations. HDB Securities acts as a depository agent and a bond transfer management agent.

Sovico is known as a multi-sector group with more than 20 subsidiaries operating in finance, banking, real estate, aviation and industry.

Sovico is a founding shareholder and currently holds the most shares in Ho Chi Minh City Development Joint Stock Commercial Bank. It is co-founder of Vietnam’s first private air carrier Vietjet Air.

In the real estate sector, it has projects such as Dragon Village in Ho Chi Minh City’s District 9, Dragon Riverside City in District 5, Republic Plaza in Tan Binh, Dragon Hill Residence and Suites in Nha Be, and Splendora in Hanoi.

In addition, Sovico owns a series of resort in Nha Trang including L'alya Ninh Van Bay, Evason Ana Mandara, Pax Ana, Ariyana Smart Condotel, Ana Mandara Cam Ranh and Da Nang including Furama Resort, Furama Villa, Ariyana Beach Resort & Suites.

In December last year, the group wants to invest in two 2,170-hectare super projects in Vung Tau, including Go Gang New Urban Area and Saigon Atlantis Hotel multi-purpose resort.

Last year, Sovico reported after-tax profit at VND300 billion ($12.8 million).