Vietnamese conglomerate Vingroup JSC is in discussions with brokerages about selling its first bond denominated in the Korean won, according to people familiar with the matter. The company seeks to broaden its investor base after its shares hit a record.

Vingroup is in the early stages of planning a three-year note of up to about 400 billion won ($292 million), said the people, asking not to be identified discussing private matters. The size and details of the deal aren't finalized and may change.

Shinhan Securities Vietnam, KB Securities and Kiwoom Securities are working on the deal, the people said.