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Vietnam ACB Securities plans 1 tln dong bond in Q1

Mon Feb 25, 2008 3:20am EST

Stocks

   

HANOI, Feb 25 (Reuters) - ACB Securities, the stock broking arm of Asia Commercial Bank ACB.HN, said on Monday it planned a 1 trillion dong ($62 million) bond issue in the first quarter of this year to fund its expansion.

The five-year non-convertible bonds would carry an annual coupon of 8.8 percent, the unlisted Ho Chi Minh City-based company said in a statement.

It did not give a specific date for the issue, to be underwritten by ACB, Vietnam's fifth largest lender by assets.

Standard Chartered Plc (STAN.L) owns 8.56 percent of ACB, the largest stake of four foreign shareholders which together hold a combined 30 percent. ($1=16,060 dong) (Reporting by Ho Binh Minh; Editing by Darren Schuettler)



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