The company will ask shareholders for comment on these issues before unveiling the detailed share sale plan. The company has announced that this Wednesday would be the date to conclude the list of the firm's shareholders, and it would ask for their ideas between August 4 and August 14.

Le Khac Hiep, chairman of the company, told the Daily on the phone yesterday that because the bonds were convertible so the bond yield would not be high.

"Vincom will not chase for prices and the firm will also not accept to borrow money at a high rate," he said. The company succeeded in issuing VND2 trillion worth of corporate bonds late last year and VND1 trillion worth of bonds in May to raise capital for its projects, he said.

Vu Bang, chairman of the State Securities Commission, said that the procedure for issuing convertible bonds on the international market would be more complicated than share issues. In fact, no Vietnamese company has issued shares on the international market, nor has any issued convertible bonds, he said.

Hiep of Vincom also confirmed that Vincom planned to trade shares on a foreign stock exchange but declined to elaborate on this.

Source: Saigon Times