HA NOI (Biz Hub) — The Viet Tien Garment Joint Stock Corporation (VGG) has issued 14 million shares converting 1.4 million corporate bonds for VND100,000 each and added VND420 billion (US$18.7 million) to its capital.
Viet Tien has to convert those bonds with a rate of 1:10, which means each bond is worth ten shares. Each bond is valued at around VND640,000 as the company's shares closed at VND64,500 each yesterday.
The bonds which were issued for the company's shareholders at the end of 2012, had a maturity of three years for a yield rate of five per cent and must be converted by the end of February 2016. — VNS