Bamboo Capital real estate arm BCG Land to list on Vietnam stock exchange
BCG Land JSC, the real estate arm of Vietnamese conglomerate Bamboo Capital Group, will list on a Vietnamese stock exchange as BCR.
The Vietnam Securities Depository and Clearing Corporation (VSDC) has granted a securities registration certificate and issued the ticker symbol to BCG Land, Bamboo Capital Group (BCG) said in a release.
BCG Land had registered to list 460 million shares worth VND4.6 trillion ($191.67 million) and the VSDC accepted the deposit of the shares from August 23.
BCG Land was established in March 2018, with charter capital of over VND200 billion ($8.33 million). After many consecutive capital hikes, its charter capital is currently VND4.6 trillion.
BCG Land is the developer of King Crown Infinity project at 218 Vo Van Ngan street, Thu Duc city, Ho Chi Minh City. Photo courtesy of the company.
According to the company’s 2022 audited consolidated financial statements, BCG Land had total assets of VND11.56 trillion ($481.67 million) and equity of VND5.24 trillion ($218.33 million), an increase of 50.3% from 2021.
Its net revenue reached over VND1.13 trillion ($47.08 million), up 160.4% year-on-year, mainly derived from the King Crown Village, Malibu Hoi An and Hoian d'Or projects which were completed and handed over to customers.
The firm posted an after-tax profit of VND316 billion ($13.17 million) last year, equivalent to 48% of the figure recorded in the 2021 same period.
In 2023, despite many challenges, BCG Land said the firm is determined to maintain its growth momentum through a prudent and flexible development policy, while streamlining the personnel structure and improving governance performance.
It set a revenue target of VND3.58 trillion ($151 million) in 2023, over three times higher than in 2022, and nearly VND685 billion ($27.77 million) in after-tax profit.
In addition to focusing resources on completing existing projects, BCG Land will expand land funds and promote investment in potential real estate projects in Long An and Lam Dong provinces to anticipate future development trends.
At the same time, it will consider investing in industrial real estate to serve the country's goal of industrialization and modernization and cash in on the trend of shifting the global supply chain.
Bamboo Capital Group is listed on the Ho Chi Minh Stock Exchange (HoSE) as BCG. Closing the Thursday session, the stock stood at VND10,550 ($0.44) per share.
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