Company prepares for bond conversion

Viet Nam Mechanisation Electrification & Construction Co (MCG) has announced it will close the list of bondholders participating in the third conversion of bonds into shares by June 10.

One bond will be converted into 10 shares at the par value of VND10,000 which will be done on June 16. Bondholders who opt not to convert their bonds will be paid the principal value and 12-month interests.

Last year, MGC issued 1 million convertible bonds worth a total of VND100 billion (US$4.76 million). This is the third time the bonds have been converted, which are worth 50 per cent of total bonds. MCG closed yesterday down 4.4 per cent to VND6,500 a share

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