Tracodi transforms into a corporate model, focusing on core business
Transport and Industrial Development Investment Joint Stock Company (Tracodi, HoSE: TCD), a member of Bamboo Capital Group (HoSE: BCG) has just officially announced the change of its name to Tracodi Construction Group Joint Stock Company.
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On August 29, 2024, Tracodi changed its name to Tracodi Construction Group Joint Stock Company . |
Previously, at the 2024 Annual General Meeting of Shareholders, Tracodi was approved by the General Meeting of Shareholders to convert its model into a Group and change the business name.
According to the Company, this new name is consistent with the corporate governance model that Tracodi is transforming into, while also highlighting the Company's core business of building and promoting the strengths of the Tracodi brand, which has a 34-year history. This will help Tracodi continue to affirm its brand, expand its scale, improve service quality and better meet the increasing demands of the market.
Over the past 3 decades, Tracodi has built a reputation in the industry with many large projects, from civil works, power plants, urban infrastructure to industrial parks. This name change also helps Tracodi reposition its brand, creating a stronger and more consistent image in the eyes of investors, partners and customers. In the context of a rapidly developing market, the brand "Tracodi Construction Group" will reflect the Company's capacity and commitment to delivering high-quality and sustainable construction projects.
In fact, in 2015, when Bamboo Capital conducted the M&A of Tracodi, Tracodi was operating as a multi-industry corporation, doing business in many fields such as construction - infrastructure, taxi transportation, stone mining and labor export. After taking over Tracodi, Bamboo Capital comprehensively and strongly restructured the Company's business activities. Continuously improved business results after the M&A deal helped Tracodi to conveniently list on the Ho Chi Minh City Stock Exchange, with the stock code TCD in 2017.
In the period of 2017 - 2024, Tracodi continuously appeared in the list of companies with the fastest growth rate in Vietnam. Tracodi has become a prestigious general contractor, one of the few general contractors to achieve a Grade 1 construction capacity certificate, capable of constructing large-scale projects such as road traffic works, civil works, industry and energy.
Tracodi is currently the general contractor for energy and real estate projects in the Bamboo Capital ecosystem. In addition, Tracodi has continuously won bids for public investment projects in the field of transport infrastructure such as the Phan Thiet airport project, residential areas and regulating lakes in Bac Giang province and the National Highway 3 - Vo Nguyen Giap - Dong Anh district (Hanoi) construction project and part of package 12 of the Chau Doc - Can Tho - Soc Trang expressway project...
Learning effective M&A strategy from the parent group Bamboo Capital, during its operation, Tracodi conducted M&A of some smaller construction companies and M&A of stone quarries and construction material quarries to improve competitiveness and proactively source raw materials. Currently, Tracodi has nearly 10 member and affiliated companies, notably including: Antraco, Tracodi E&C, Vinataxi...
On May 23, Tracodi completed the issuance of 22.6 million shares to pay dividends to shareholders, equivalent to a rate of 8%. On July 12, Tracodi also completed the issuance of an additional 30.5 million shares to increase charter capital from equity, with an implementation ratio of 100:10. In addition to issuing bonus shares, this year, Tracodi also plans to issue 170 million shares privately at an offering price of VND10,000/share. Tracodi's charter capital before these issuances was VND2,826 billion. It is expected that after completing the issuances, the company's charter capital will increase to VND5,058 billion.
In the last 6 months of 2024, Tracodi is expected to focus on implementing a series of important projects such as Section Km174+000 to Km189+666.65 of Package No. 12 of the Chau Doc - Can Tho - Soc Trang Expressway Project with a total contract value of over VND 300 billion, and the Duc Thinh Residential Area Project in Hiep Hoa District, Bac Giang Province, with a contract value of over VND 52 billion. In addition, the company will also construct the main part of the King Crown Infinity Project in Thu Duc and carry out the acceptance and handover of the Condotel block of 625 rooms of the Malibu Hoi An Project in the third quarter of 2024.
Not only stopping at implementing current projects, Tracodi also seeks and expands the construction of traffic and civil infrastructure projects in Hai Phong, Da Nang and the Southeast region with an estimated exploitation value of up to 300 billion VND.
Tracodi is also actively seeking international cooperation opportunities, establishing strategic partnerships with many large corporations. This helps the company take advantage of advanced technology and foreign capital, not only expanding the market but also enhancing Tracodi's competitiveness.
Target for the period 2024 - 2028, Tracodi expects revenue to achieve an average growth rate of 12% per year, with revenue in 2028 reaching 3,816 billion VND. Profit after tax in 2028 is expected to reach 348 billion VND. Equity in 2028 is expected to reach 6,438 billion VND, total assets are expected to reach 13,130 billion VND.
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