Visaco Mineral And Investment Joint Stock Company(HASTC:VMI) announced a private placement of convertible bonds for gross proceeds of VND 30,000,000,000 on September 23, 2015. The bonds will mature after 24 months. The interest rate for the bonds is 11 per cent for the first year and will be adjusted within four per cent compared to the bank's interest rate in the second year.

The investors may convert bonds into company's shares or receive cash on two occasions: 50 per cent of the bond yield after the first year or 100 per cent of the bond yield on the maturity date. If bondholders decide to convert all the issued bonds, the company will issue 3,000,000 shares at the price of VND 10,000 per share.