With an issuance rate of up to 50% (shareholders owning 2 shares are entitled to purchase 1 new share) and nearly 720 million shares currently in circulation, HSC plans to offer an additional 360 million new shares to its shareholders. This will bring the total number of shares to nearly 1.08 billion, corresponding to a charter capital of VND 10,800 billion.
According to the plan, HSC will utilize the approximately VND 3,600 billion raised from this issuance to increase the operating capital of the Company, thereby expanding its margin trading and underwriting capacity.
Specifically, the Company intends to allocate nearly VND 2,520 billion (70%) to supplement capital for margin lending and nearly VND 1,080 billion (30%) for underwriting activities. The disbursement is expected to take place in 2025.
The General Meeting of Shareholders authorized the Board of Directors to modify the capital usage plan, with the value of changes not exceeding 50% of the proceeds from the issuance, as stipulated by laws. The Board of Directors is also required to report to the General Meeting of Shareholders at the nearest meeting.
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HSC’s Capital Usage Plan
Source: HSC
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It is understandable why HSC aims to boost its margin and underwriting activities, as these two segments contributed to a slight increase of 4% in net profit in the third quarter compared to the same period last year, amounting to over VND 222 billion.
Overall, HSC‘s financial performance for the first nine months of this year has been positive, with operating revenue increasing by more than 50% year-on-year to nearly VND 3,100 billion, resulting in a 64% rise in net profit to VND 813 billion.
HSC attributed this positive outcome to improved market liquidity and market share, which had a favorable impact on the Company’s brokerage and margin lending revenue. Additionally, the Company’s underwriting performance was boosted by favorable market conditions in 2024.
As of September 30, 2024, HSC‘s total assets amounted to VND 32,715 billion, with equity reaching VND 10,057 billion. The earnings per share (EPS) for the first nine months of 2024 stood at VND 1,391 per share.
| HSC’s Net Profit in Recent Quarters |
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