3 more Bamboo Capital-related bond lots suspended from trading

The Hanoi Stock Exchange (HNX) has announced the temporary suspension of trading of 1 bond lot of Tracodi Construction Group Joint Stock Company (stock code TCD) and 2 bond lots of Gia Khang Investment Trading Service Joint Stock Company (Gia Khang). These are the bond lot code TCDH2227002 of Tracodi and the bonds code GKCCH2124001 and GKCCH2124002 of Gia Khang will be suspended from trading from March 20 at the request of the competent state agency. Both of these companies are related to Bamboo Capital Group.

Trading of 3 more Bamboo Capital-related bond lots has been suspended

PHOTO: TNO

According to data from HNX, TCDH2227002 bond issued by Tracodi on September 27, 2022, with a term of 60 months, matures on September 27, 2027 with a total issuance value of VND 990 billion. The collateral is all shares owned by shareholders at Long Son Investment and Development Joint Stock Company; 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. Tracodi Company - a subsidiary directly held by Bamboo Capital with more than 51% of capital - owns more than 40% of capital at Long Son. The developer of the Bai Chay project is VINAHUD Housing and Urban Development Investment Joint Stock Company, also a member of Bamboo Capital.

In addition, the GKCCH2124001 bond lot is worth VND 1,500 billion, issued on February 2, 2021 with a term of 60 months, maturing on February 2, 2026 and the GKCCH2124002 bond lot is worth VND 1,000 billion, with a term of 60 months, issued on April 26, 2021 and maturing on April 26, 2026.

The assets securing these two bonds are shares owned by shareholders at An Khang Land Investment, Trade and Service JSC; all rights and benefits arising from the Giga City project; land use rights for the land used to construct the Giga City project owned by An Khang Land. Gia Khang Company is an affiliated company with 49% capital owned by BCG Land Company - a subsidiary of Bamboo Capital.

All three suspended bond lots have an interest rate of 11% per year, and are registered and custodianed by Tien Phong Securities Joint Stock Company (stock code ORS).

Previously in February, HNX also announced the temporary suspension of trading of HIC12103 bonds of HELIOS Investment and Services Joint Stock Company and BCR12101 bonds of BCG Land Joint Stock Company (stock code BCR), which are also related entities to Bamboo Capital. Bamboo Capital Group has had personnel changes since the beginning of March after former Chairman of the Board of Directors Nguyen Ho Nam was announced to be prosecuted.