HANOI Vietnamese conglomerate Masan Group has secured funding of at least $200 million from Bain Capital, with the possibility of bringing in other investors to increase that to as much as $500 million, the two entities said on Monday.

Proceeds, according to fast-moving consumer goods firm Masan would be used to strengthen the its financial positions.

The investment would be in the form of convertible dividend preference share at a price of 85,000 dong ($3.50) per share which can be converted into ordinary shares at a 1:1 conversion ratio, Masan said in a statement.

($1 = 24,310.0000 dong)

(Reporting by Phuong Nguyen; Editing by Martin Petty)