Hoa Phat issues convertible bonds

VNStockNews.com - Hoa Phat Group (HPG) has issued VND1.12 trillion (US$60.5 million) worth of convertible bonds.

Convertible into shares after one year with no interest rate, the bonds are freely transferrable as long as foreign ownership remains at no more than 49 per cent.

The capital raised through the bond issue will be mostly applied to construction of the Tay Mo urban area in Ha Noi.