The Hanoi Stock Exchange (HNX) has just announced the temporary suspension of trading of the TCDH2227002 bond lot of Tracodi Construction Group Corporation (TCD) and the two lots GKCCH2124001 and GKCCH2124002 of Gia Khang Investment Trading Service Corporation (Gia Khang) from March 20.

The three bonds have an interest rate of 11%/year, registered and custodianed by Tien Phong Securities (ORS).

Bond lot TCDH2227002 issued by Tracodi on September 27, 2022 with a term of 60 months. The issuance value at par value is VND 990 billion.

The collateral assets are all shares owned by shareholders at Long Son Investment and Development JSC; property rights arising from the Bai Chay project owned by Long Son; land use rights and assets attached to land belonging to the Bai Chay project owned by Son Long; other assets of the issuer and/or a third party as agreed between the parties.

By the end of 2024, Tracodi owns 40.625% of Long Son's capital.

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Mr. Nguyen Thanh Hung - Chairman of Tracodi Board of Directors. Photo: TCD

Bond GKCCH2124001 is worth VND 1,500 billion, issued on February 2, 2021 with a term of 60 months. Bond GKCCH2124002 is worth VND 1,000 billion, with a term of 60 months, issued on April 26, 2021.

The collateral for these two bonds is shares owned by shareholders at An Khang Land Investment, Trade and Service JSC; all rights and benefits arising from the Giga City project...

Previously in February, HNX announced the temporary suspension of trading for HIC12103 bonds of HELIOS Investment and Services JSC and BCR12101 bonds of BCG Land JSC (BCR).

Tracodi is a subsidiary directly owned by Bamboo Capital with 51.34% of charter capital. Meanwhile, Gia Khang is an affiliated company owned by BCG Land.

After the incident of Tracodi's vice president being prosecuted, many business leaders resigned and the company asked to extend the date of the 2025 annual shareholders' meeting to before June 30 to rearrange personnel.

Mr. Tran Nguyen Huan and Mr. Le Thanh Tung have submitted their resignations from the positions of members of the Board of Directors of Tracodi since March 19.

Mr. Huan also resigned from the position of General Director and legal representative according to his personal wishes.

The Board of Directors also dismissed Mr. Ha Chi Dung from the position of Deputy General Director in charge of Construction from March 18.

Ms. Nguyen Thi Thanh Huong resigned from her position as Deputy General Director. Ms. Nguyen Thi Anh Tuyet was also approved by the Board of Directors to be dismissed from her position as person in charge of administration and company secretary.

The Ministry of Finance has a new proposal, bond-issuing enterprises 'breathe a sigh of relief' . The Ministry of Finance does not propose to amend the contents related to the investment rights of individual investors in the market. Individual investors are entitled to invest in all types of individual corporate bonds.