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Mekong Housing Bank to raise VND2 tln
The Mekong Housing Bank expects to raise VND2 trillion (US$124 million) by issuing certificates of the deposits denominated in both dong and dollar.
The lender said on its website earlier this week that this move aims to raise working capital.
On the dong-denominated certificate of deposit, it will offer a coupon rate of 15.8 percent per year for one year and above and 15.4 percent per year for three months and less.
For dollars, it will offer 7.5 percent per year for nine months and over 7.1 percent per year for three months and less.
Both domestic and foreign investors can buy the certificates, it said, adding the issue, which began last Friday, will wrap up August 6.
In March this year, Mekong Housing Bank received approval to sell shares to the public for the first time, according to Bloomberg.
It will sell 13 percent to retail investors, 15 percent to institutional investors, and 4 percent to its staff, Bloomberg said, adding the government will retain the remaining 68 percent.
The bank had total assets of VND27.6 trillion ($1.71 billion) as of December 31 last year, up from VND18 trillion in 2006.
Thanhnien
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