Sonadezi wants to divest all capital from Amata Bien Hoa

If the divestment is successful, Sonadezi can bring in a profit of at least VND488 billion compared to the investment made.

The Board of Directors of Industrial Park Development Corporation (Sonadezi, UPCoM: SNZ) has just approved a Resolution on divestment at Amata Bien Hoa Urban Joint Stock Company.

Accordingly, it is expected that in the fourth quarter of 2024 and the first quarter of 2025, Sonadezi will transfer more than 4.2 million shares, accounting for 10% of capital at Amata Bien Hoa - the investor of Amata City Bien Hoa Industrial Park (Bien Hoa City, Dong Nai Province) with a scale of 513 hectares.

With a transfer price of no less than VND126,700/share, Sonadezi can earn at least VND535 billion.

According to the financial report, Sonadezi has invested more than 47 billion VND in Amata Bien Hoa. Thus, if the divestment is successful, Sonadezi can earn at least 488 billion VND in profit compared to the investment.

If successful, Sonadezi could earn at least VND488 billion in profit compared to its investment in Amata Bien Hoa Urban Joint Stock Company. Photo: Le Toan

In addition to Amata Bien Hoa, Sonadezi has approved the corporation's restructuring plan for the 2021-2025 period, including a plan to divest capital from many member companies operating in the fields of industrial park real estate, materials and construction.

According to the plan, in companies owning industrial parks with occupancy rates below 70%, Sonadezi will reduce its ownership to 46%; in industrial parks with occupancy rates of 70% or more, Sonadezi will reduce its ownership to 36%.

The divestment list includes six industrial park real estate companies: Sonadezi Long Thanh Joint Stock Company, Sonadezi Chau Duc, Sonadezi Giang Dien, Sonadezi Long Binh, Industrial Urban Development No. 2, and Sonadezi Binh Thuan . The ownership ratio in these companies will be reduced to 36%.

In addition, Sonadezi plans to reduce its ownership ratio in Dong Nai Construction and Materials Investment Joint Stock Company from 52.59% to 36%. At the same time, it will divest all capital in five other companies including Dong Nai Construction Joint Stock Company, Dong Nai Paint, Dong Nai Civil and Industrial Construction No. 1 and Dong Nai Traffic Works.

Regarding business performance, in the first 9 months of 2024, Sonadezi recorded net revenue of VND 4,192 billion and profit after tax of VND 1,198 billion, up 13% and 23% respectively over the same period last year. The parent company's profit after tax alone reached VND 737 billion, up 31%.

Compared to the target of after-tax profit of more than VND 1,370 billion in 2024, Sonadezi has achieved 87% of the profit target.

By the end of the third quarter, Sonadezi's total assets decreased by 8% compared to the beginning of the year, down to VND21,271 billion. Of which, cash and cash equivalents reached VND2,320 billion, double the beginning of the year; short-term receivables decreased by half to more than VND914 billion.

In addition, Sonadezi still has 2,233 billion VND in inventory, up 4%, mostly unfinished production and business costs at the Chau Duc Industrial Park - Urban Area project worth more than 1,500 billion VND.

Source: https://baodautu.vn/sonadezi-muon-thoai-toan-bo-von-khoi-amata-bien-hoa-d229195.html