Euro raises MVR 25m via first private bond sale on stock market
A bond is a financial instrument issued to investors not only to invest in a long-term repayment process with interest.
By
Ahmed Naif
For the first time, a private company has sold a bond on the domestic stock market.
Euro Marketing, which has a wide wholesale and retail business, issued a bond of MVR 25 million in January on the Maldives stock market.
Maldives Stock Exchange revealed on Monday that the bond sold by Euro through 'Viyani' portal dedicated to private investors have already been fully subscribed. Therefore, the option of subscribing to the bond has been closed, it said.
Euro's bond:
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Total bond amount - MVR 25 million
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Pay back - 4 years
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Interest - 7.5%
A bond is a financial instrument issued to investors not only to invest in a long-term repayment process with interest, but also to raise funds for expenses. More than one person can invest in a bond.
Private companies have the option to raise money through the country's financial markets, but local private companies do not usually take advantage of this opportunity.
