SSI seek shareholders’ permission to issue bonds, ESOP shares

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Saigon Securities Inc is seeking shareholders’ approval for its plan to issue 1.2 million convertible bonds and 10 million ESOP (employee stock ownership programme) shares.

SSI is seeking shareholders’ approval for its plan to issue 1.2 million convertible bonds. — Photo cafef.vn

Saigon Securities Inc is seeking shareholders’ approval for its plan to issue 1.2 million convertible bonds and 10 million ESOP (employee stock ownership programme) shares.

According to the plan, next year, the securities company will issue 1.2 million convertible bonds with three-year term at a price of VND1 million each. Bond interest rate is expected to be 4 per cent per year.

The convertible bonds will be issued to less than 100 investors, with priority given to those who operate in the financial and securities sectors.

Capital mobilised from the bond issuance, valued at VND1.2 trillion (US$53 million), will be used to increase the company’s working capital.

SSI also plans to sell 10 million shares to employees at VND10,000 per share. — VNS

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