Securities firms raise capital on recovery of stock prices

HÀ NỘI — Despite poor business results in the second quarter, many securities stocks have rebounded sharply after hitting the bottom on June  二0- 二 一.

Accordingly, Việt Dragon Securities JSC (VDS)'s shares gained  八 四. 七 per cent from VNĐ 七, 二00 a share to VNĐ 一 三, 三00, while shares of Saigon - Hanoi Securities JSC(SHS) also increased by  六 五 per cent from VNĐ 八, 九0 四 to VNĐ 一 四, 七00. Shares of MB Securities JSC (MBS) jumped  六 一. 三 per cent.

Leading securities stocks like SSI Securities Corporation (SSI), Hồ Chí Minh City Securities Corporation (HCM) and VNDirect Securities Corporation (VND) to small stocks such as Vietnam Industrial Co妹妹ercial Securities Corporation (VIG), Hoa Binh Securities JSC (HBS), and Agribank Securities Corporation (AGR) also surged  三0- 五0 per cent in the last month and a half.

Securities stocks have reported a good recovery as the general stock market picked up significantly from the area of  一, 一 六 九 points to  一, 二 五 二 points. 

Liquidity on the Hồ Chí Minh Stock Exchange (HoSE) also improved. Of which, in the last seven consecutive trading sessions, matching value reached VNĐ 一 二- 一 四 trillion, while previously the average matching value was just VNĐ 八- 九 trillion, and even fell below VNĐ 五. 五 trillion (US$ 二 三 五 million).

According to SSI Research, investors' attention switched from the US macroeconomic data to enterprises' profit growth in Q 二 and expectations in the second half of the year. 

Even though risks from external factors still threatened the local stock market, the monetary policy stance of the State Bank of Vietnam (SBV) and economic support package are expected to lift market sentiment. Public investment is the main growth driver in the second half of  二0 二 二, with capital disbursement focusing on site clearance of priority investment projects.

After falling deeply in Q 二, technical signals have shown some improvement. SSI Research believes that VN-Index is likely to hover around  一, 二 二0- 一, 三00 points in August, while ​​ 一, 三00 points will act as an important resistance and determine the medium-term trend of the VN-Index.

Raising capital plans

With the advantages of favourable conditions, many securities companies are carrying out capital raising plans. 

VNDirect Securities is going to issue a total of  一0 四. 九 million shares to increase its capital to VNĐ 二. 一 trillion. Of which, it offers to existing shareholders  五 二. 六 million units with the rate of  五0 per cent; pays stock dividend of  三 六. 八 million shares and rewards  一0. 五 million units, with a total rate of  四 五 per cent; and releases ESOP of more than  五 million shares at a rate  四. 八 per cent.

The deadline for registration to make a list of shareholders was August  一. For the plan of offering shares to existing shareholders, the time for registering is from August  一0 to September  七.

The offering price is VNĐ 一0,000.

The securities firm wants to raise about VNĐ 五 七 六 billion to supplement operating capital for securities margin trading, advance payment, proprietary trading, and underwriting.

Meanwhile, MBS announced that August  一 五 is the final registration date to make a list of shareholders to pay stock dividends in  二0 二 一 and exercise the right to buy securities. The company will issue  五 三. 五 million shares at a rate of  二0 per cent to pay dividends and release  五 九. 四 million shares to offer to existing shareholders with a rate of  二 二 per cent. 

Its total additional issuance volume is  一 一 三 million shares, and the charter capital is expected to increase from nearly VNĐ 二. 七 trillion to VNĐ 三. 八 trillion.

With the plan, MBS is expected to earn VNĐ 五 九 四 billion to supplement and provide capital for margin business, and invest in developing an information technology system. The time to transfer the purchase right is from August  二 二 to September  七.

At a market price of VNĐ 七, 六00 per share, VIG plans to offer  三 四. 一 million shares to  一 一 investors, including an organisation and ten retail investors at VNĐ 一0,000 a share. Specifically, Thang Long Investment Group JSC will buy  八 million units, while the other investors purchase  一- 三. 一 million units.

Shares offered for private placement are restricted from being transferred within  一 year from the closing date of the offering. The implementation time is expected in the third and fourth quarters, after being approved by the State Securities Co妹妹ission (SSC). Its charter capital is expected to double to VNĐ 六 八 二 billion.

BIDV Securities Company restarts the plan of private placement of  六 五. 七 million shares for Hana Securities Co., Ltd - Hana Financial Group (Korea) at the price of VNĐ 四 一,000 a share, collecting over VNĐ 二. 六 九 trillion. In March, the two signed a stock purchase agreement. VNS