The State Securities Commission has granted registration certificate on public offering of shares to VNDirect Securities Corporation (VND). VND offers to sell 50.3 million common shares to existing shareholders at the ratio of 3:1. The price offered is VND10,000 (44 US cents) for each share. The last date for registration is February 28. The right to purchase can be transferred from March 8 to April 2.
According to VND, the expected capital of more than VND503 billion will be used to supplement the loan for margin trading. At the same time, the additional capital will help the corporation improve its financial capacity to carry out underwriting contracts. In addition to this, VND will use a portion of its mobilised capital for proprietary trading, providing and performing derivatives-related services.
In 2017, VND posted a revenue of VND1.235 trillion, a year-on-year increase of 67 per cent; VND’s after-tax profit reached VND438.4 billion, 2.35 times higher than in 2016.