The 47 Construction Joint-Stock Company (HOSE:C47) announced a private placement of 800,000 unsecured convertible bond having par value of VND 100,000 per bond at an issue price of VND 100,000 for gross proceeds of VND 80,000,000,000 on November 8, 2020. The bonds have a terms of 12 months and will be issued during 2020-2021. The bonds will bear an interest rate of 10% per annum and interest will be payable bi-annually. The bonds will be convertible at a price of VND 10,000 per share at a convertible ratio of 1:10, 1 bond will be converted 10 shares with the convertible price of 10,000 per share. The bonds will be convertible at the maturity of the bonds. The transaction has been approved at the extraordinary general meeting of the company.