AsemconnectVietnam - Becamex Infrastructure Development Joint Stock Company (Becamex IJC, code IJC - HOSE) plans to implement the Prince Town II (expansion) housing project in Hoa Phu ward, Thu Dau Mot city, Binh Duong province.

Becamex IJC approved the Prince Town II (expansion) housing project at lots P1, P2, P3 in the new urban area, Hoa Phu ward, Thu Dau Mot city, Binh Duong province with a scale of 36,354 m2, providing a total of 314 units.
Of which, the expected investment capital is VND1,400 billion (VND280 billion of investor capital and VND1,120 billion of mobilized capital), the project is expected to be implemented until 2028.
Another noteworthy point is that previously, regarding the capital mobilization plan, Becamex IJC had just approved a plan to offer more than 251.8 million shares at a price of VND10,000/share, equivalent to an offering volume of nearly 67% of the total number of outstanding shares.
Of the mobilized amount, Becamex IJC plans to use VND1,163.9 billion to invest (and/or pay for construction contracts) in the BOT project to upgrade and expand National Highway 13 (Binh Duong); VND714.9 billion to contribute capital to Becamex - Binh Phuoc Technical Infrastructure Development Joint Stock Company; VND374.5 billion to pay the company's principal and interest debts to credit institutions and bondholders; and 265 billion VND invested in Ho Chi Minh City - Thu Dau Mot - Chon Thanh Expressway Joint Stock Company to invest in the Ho Chi Minh City - Thu Dau Mot - Chon Thanh Expressway project.
Regarding the offering of shares mobilized from existing shareholders, Mr. Trinh Thanh Hung, General Director of Becamex IJC said that the main purpose of using capital is long-term investment in transport infrastructure projects and financial investment in companies. In the case of using borrowed capital and issuing bonds, the interest rate is high and cannot be capitalized. During the initial investment period, the company has not yet received dividends. If it is not capitalized, it will affect the company's costs. Therefore, the Board of Directors evaluates, considers and chooses the issuance option for existing shareholders.
N.Nga
Source: VITIC/Tinnhanhchungkhoan