Kinh Bac (KBC) offers 250 million private shares at nearly 7% lower than market value, raising nearly 6 trillion VND to restructure debts

On June 18, Kinh Bac (KBC) approved the sale of 250 million private shares at 23,900 VND/share, projected to raise nearly 6 trillion VND. The offering price is about 6.8% lower than the current market price of 25,650 VND/share. The target issuers are professional stock investors, and the shares will be restricted from transfer for 1 year. KBC plans to use the capital for debt restructuring, primarily repaying over 4.428 trillion VND and 1.462 trillion VND to two subsidiaries. The list of investors includes Dragon Capital, Prudential Vietnam, and several other individuals increasing their ownership.