VNStockNews.com - The shareholders of Quoc Cuong Gia Lai Joint Stock Co (coded QCG) have recently approved the proposal of issuing 800,000 convertible bonds in order to supplement the company working capital, completing the compensation works for in-progress real estate projects and developing rubber tree plantation.
In details, within this year, the company plans to issue those corporate bonds to less than 100 large investors with offered price equalling to face value of 1 million dong. Each investor can buy at least 8,000 bonds. These bonds have 24-month term and the principal and coupon will be paid once on maturity date.
The bonds will be converted in two phases. In the first phase, 50 percent of the bonds will be converted after 12 months from the date of issue and the rest 50 percent to be converted on due date.
