Everest Securities Joint Stock Company announced that it expects to receive VND 640 billion in funding from Fusion Suites Sai Gon Hotel Joint Stock Company and other investors.

Everest Securities Joint Stock Company announced a private placement of 40,000,000 shares at VND 16,000 per share for gross proceeds of VND 640,000,000,000 on August 23, 2021. The transaction was approved by the board of the company pursuant to Board Resolution No. 33/2021/NQ-HDQT.

All shares in the private placement to be offered to investors are restricted from transfer within one year from the completion date of the offering. The transaction is subject to State Securities Commission approval. The transaction is expected to close in third and fourth quarter of 2021.