Vietnam ACB Securities plans VND1 tln bond in Q1

ACB Securities, the stock broking arm of Asia Commercial Bank, said Monday it planned a VND1 trillion ($62 million) bond issue in the first quarter of this year to fund its expansion.

The five-year non-convertible bonds would carry an annual coupon of 8.8 percent, the unlisted Ho Chi Minh City-based company said in a statement.

It did not give a specific date for the issue, to be underwritten by ACB, Vietnam's fifth largest lender by assets.

Standard Chartered Plc owns 8.56 percent of ACB, the largest stake of four foreign shareholders which together hold a combined 30 percent.

Thanhnien

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