Kinhbac City Development Holding Corporation failed to sell 147.1 million shares in private placement
Kinhbac City Development Holding Corporation sold only 102.9 million out of 250 million shares during its private offering. The company planned to resell the remaining 147.1 million shares at VND 23.9 thousand per share. It also used assets from subsidiaries to secure debt obligations. This was not the first time it used related-party assets for debt guarantees. The board authorized its Chairman to carry out the related procedures.
Kinhbac City Development Holding Corporation sold only 102.9 million out of 250 million shares during its private offering. The company planned to resell the remaining 147.1 million shares at VND 23.9 thousand per share. It also used assets from subsidiaries to secure debt obligations. This was not the first time it used related-party assets for debt guarantees. The board authorized its Chairman to carry out the related procedures.
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