Real estate developer Kinh Bac to hold $56m bond issue
The bonds, which have the face value of VND1 million ($47.3) each, have a term of three years and a yield of 8 per cent per year.
In the first nine months of 2014, KBC earned the net profit of VND165.1 billion ($7.75 million), compared to the loss of VND128.7 billion ($6.04 million) in the same period last year. The improvement was attributed to an increase in land rentals.
Dang Thanh Tam, chairman of KBC, is the biggest individual shareholder with an ownership of 20.99 per cent. Other big investors in KBC include Vietnam Enterprise Investments Limited, which holds a 6.68 per cent stake, Saigon Invest Group with 5.82 per cent, and Deutsche Bank AG London with 4.8 per cent.
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