Vietnam Top Stock Broker Raises Capital to VND1.5T
Saigon Securities Incorporation (SSI) has received approval from the State Securities Commission to scale up its registered capital to VND1.5 trillion from current VND1.37 trillion by converting 1.6 million bonds into shares.
With the new capital size, SSI will still maintain as the largest securities company among 103 brokers operating in Vietnam, followed by Sacombank Securities Co with VND1.1 trillion and ACB Securities Co with VND1 trillion.
The firm converted each one bond into 10 shares. After the conversion, SSI is allowed to list new shares valued at VND166.7 billion on the country’s main stock exchange.
After the capital hike, ANZ is still the biggest shareholder in the Vietnamese stock broker, with an 18 per cent stake, followed by Daiwa Securities Group with 10.54 per cent. SSI’s Chairman Nguyen Duy Hung owns a 9.3 per cent stake.
SSI was among few securities firms which posted profit last year. It made VND259.3 billion in profit on VND1.1 trillion in revenue. (Securities Investment)
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