Vietnam Top Stock Broker to Give Bonus Shares at 1:1
Saigon Securities Inc. (SSI), a leading stock broker in Vietnam, will issue bonus shares to its shareholders at 1-for-1 ratio as part of its plan to raise registered capital.
Shareholders will receive a cash interim dividend of VND1,000 each, the company said in a statement released Tuesday, without giving record date.
SSI will also issue VND2 trillion of convertible bonds to supplement its working capital.
"If macro conditions are favorable, we will use capital surplus to conduct the share split right in the first quarter of 2010", CEO Nguyen Duy Hung of SSI said earlier.
SSI, with a capital size of VND1.533 trillion, posted its pretax profit up 150% to VND649 billion but net revenues down 37.4% to VND659.4 billion in the first nine months.
Foreigners are holding a combined 45.93% stake in the local broker. SSI shares have risen 38% since early Sept. to close at VND107,000 Oct. 22. (SSI)
Vietnamese
