Two leaders resign, Coteccons plans to mobilize 1,400 billion VND in bonds

Coteccons Construction Joint Stock Company (stock code: CTD) announced a plan to restructure its management apparatus. Accordingly, Mr. Tran Van Thuc - Head of the Supervisory Board, and Mr. Doan Phan Trung Kien - Member of the Supervisory Board - have resigned from their positions at the Company.

The company's announcement stated: "The Board of Directors and the Board of Supervisors of Coteccons acknowledge and appreciate the contributions of the two men during the past term."

In another development, Coteccons has just approved a plan to issue bonds to the public with a maximum total value of VND1,400 billion.

According to the Board of Directors' Resolution, these are non-convertible bonds, without warrants and without collateral, with a term of 3 years and an expected interest rate of 9%/year.

Coteccons plans to issue 14 million bonds, with a face value of VND100,000/bond. The offering will take place after the company receives the Certificate of Registration for Offering from the State Securities Commission, with the specific issuance date decided by the Chairman of the Board of Directors.

The entire amount raised will be used to supplement working capital, serve production and business activities, pay contracts with suppliers and subcontractors, as well as pay salaries and bonuses to employees.

The bond issuance plan was announced ahead of the upcoming general meeting of shareholders, taking place in the context of a recovering market and businesses with a large backlog for the following years.

Projecting for the period 2025 - 2029, Coteccons targets an average revenue growth of 20 - 30%/year. In the fiscal year 2026 alone, the company's first quarter revenue and profit are expected to increase by about 30% over the same period.

Source: https://dantri.com.vn/kinh-doanh/hai-lanh-dao-tu-nhiem-coteccons-tinh-huy-dong-1400-ty-dong-trai-phieu-20251017175523720.htm