Song Da No. 11 adjusts capital use plan after share offering

Song Da No. 11 JSC (SJE) has approved a resolution to adjust its capital utilization plan from the share offering to existing shareholders. The total capital raised amounted to VND 205,806,757,000, which is lower than the initial target.

Under the revised plan, VND 145,000,000,000 will be allocated to invest in shares of Phuc Long Hydropower JSC, with implementation scheduled for Q4/2025. The remaining VND 60,805,657,000 will be used to repay bank loans. This includes VND 37,018,397,297 for a BIDV loan due in Q4/2025, VND 19,751,633,074 for an MB Bank loan due in Q4/2025, and VND 4,035,626,629 for a Vpbank loan due in October 2025.

The adjustment was prompted by a lower-than-expected capital raise and the need to reallocate funds due to several BIDV loan installments being paid using operating income and other borrowed capital. This revised plan aims to optimize the use of mobilized capital to service various maturing bank loans.