Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) discloses information on its profit target for 2019 and the bond redemption as follows:
1. CII exceeded the profit target for 2019
According to the resolution of the general meeting of shareholders of Ho Chi Minh City Infrastructure Investment Joint Stock Company dated April 18, 2019, the consolidated profit after tax plan for 2019 is VND932 billion. However, CII successfully completed and exceeded the profit plan for 2019.
2. The redemption of convertible bonds from a Korean investor:
As the request of bondholders, on January 06, 2020, CII repurchased US$40,000,000 (equivalent to VND902,919,490,643) convertible bonds, which were issued in 2017, from Rhinos Vietnam Convertible Bond Private Investment Fund No.1. After the redemption, CII’s debt balance decreased more than VND900 billion and greatly improved CII’s financial indicators.