Vingroup scores with novel exchangeable

By Rashmi Kumar
14 Apr 2021

Vingroup Joint Stock Company raised $500m from an exchangeable bond this week, selling the largest equity-linked transaction from Vietnam — and developing the market by using novel structural features never seen before in the country. Rashmi Kumar reports.

The conglomerate hit the market on Tuesday afternoon with a $425m bond exchangeable into shares of Vinhomes Joint Stock Company, a real estate developer. That is largest equity-linked offering from Vietnam, breaking a record set by resort and entertainment company Vinpearl in June 2018, when it raised a ...

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