6:51:53 PM | 28/8/2008
Vietnam's top stock broker Saigon Securities Incorporation (SSI) has announced that it netted profit of VND64.3 billion (US$3.9 million) and revenue of VND607.14 billion (US$36.8 million) in the first seven months of this year.
In July, the company netted VND91.6 billion (US$5.6 million) profit on VND70.5 billion (US$4.3 million) in revenues.
SSI said the rally of the stock market in July helped bring profits to the company between January and July although it suffered loss of VND27.2 billion in the first half due to financial provision costs.
Despite losses in the first half, two SSI's foreign strategic partners including Japan's Daiwa Securities and Australia's ANZ Bank had still bought an additional 7 million SSI shares to boost their stake in the firm.
The Ho Chi Minh Stock Exchange announced Tuesday that ANZ finished buying only 5.15 million shares in SSI while it registered to take 6.8 million shares in 60 days from June 26 due to SSI shares' low liquidity.
The purchase helped raise ANZ ownership in SSI to 17.66 per cent, or 24.13 million shares. The Australian bank has registered to buy the remaining 1.37 million shares from August 28 to boost its stake to 18.66 per cent.
SSI shares closed higher for 14 consecutive sessions, up 53.3 per cent since August 1 to close at VND61,000 each on August 27 on 38,800 shares traded. (Vneconomy, Labor, CafeF)
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