American Vietnamese Biotech Incorporation (HNX:AMV) announced a private placement of a maximum of 280,000 convertible bonds at a price of VND 1,000,000 per bond for a maximum gross proceeds of VND 280,000,000,000 on May 26, 2019. The transaction has been approved by the annual general mandate of the company. The interest rate of the bonds will be in accordance with the resolution of the board meeting of the company in accordance with the market situation and its financial capabilities. The bonds issue will have a hold period of 1 year from the date of completion of issuance and have term from 1 year to 3 years from the date of issuances. The transaction is subject to approval of State Securities Commission of Vietnam. The bondholders have a right to convert 100% of their holding on the maturity date of the bond at a conversion price not less than VND 10,000 per share. The bonds will be converted into common share of the company. The bonds are issued at par and are issuable in one and many tranches.