VCBS to issue bonds to supplement capital
VCBS to issue bonds to supplement capital
The Vietcombank Securities Joint Stock Company (VCBS) will issue 200,000 bonds worth VND200 billion (US$9.4 million).
All the bonds will be sold and distributed to less than 100 investors. The sale will not be advertised in the mass media and on the Internet. This is the first securities company to issue bonds in this manner.
Each bond will have a face value of VND1 million ($47), with an interest rate of 8.5 per cent per year. The interest will be paid every six months.
The bonds are being issued to supplement the business capital of the company.
VCBS earned VND94 billion (US$4.48 million) in after-tax profits in the first nine months of this year, tripling that of the same period last year.
In the third quarter of this year, the company earned VND106 billion ($5 million) in revenue, of which the brokerage service was 27 billion ($1.28 million).
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