In a recent development, Dragon Capital Markets Limited (DC), an affiliate of the Dragon Capital fund group, has notified its intention to exercise subscription rights for HCM shares of Ho Chi Minh City Securities Corporation (HSC, Stock Code: HCM)
Specifically, DC has registered to participate in the upcoming HSC rights offering of nearly 360 million new shares at a ratio of 2:1, meaning that for every 2 shares held, 1 new share can be purchased.
As one of HSC’s largest shareholders, DC currently holds over 226.8 million shares and is entitled to subscribe to more than 113.4 million new shares. The transaction is expected to take place between August 22, 2025, and September 12, 2025.
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At the offering price of VND 10,000 per share, DC is expected to invest nearly VND 1,134.2 billion to acquire the aforementioned number of shares.
Should the transaction be successful, DC’s ownership in HSC will increase significantly. The number of HCM shares held by DC will rise from over 226.8 million to nearly 340.3 million, representing a substantial 31.51% stake in HSC.
It is worth noting that Mr. Le Anh Minh, Vice Chairman of HSC’s Board of Directors, currently serves as the Director and Capital Representative of DC in HSC. Additionally, Mr. Le Hoang Anh, a member of HSC’s Board, is also the Capital Representative of DC in HSC.
In a related update, the Ho Chi Minh City Finance and Investment State-owned Company (HFIC) recently announced its plan to sell over 121.6 million subscription rights (equivalent to more than 60.8 million shares) of HCM shares at a starting price of VND 6,875 per right. The expected value of the transfer is nearly VND 836.3 billion.
The transaction will be conducted through an auction on the HoSE, with an expected timeline between August 12, 2025, and August 18, 2025.
Previously, on July 23, 2025, HFIC had announced the auction of the same number of subscription rights for HCM shares at the same starting price. The registration and deposit period for investors was from July 24, 2025, to 4:00 PM on August 4, 2025.
Currently, HFIC holds over 121.6 million HCM shares, representing a 16.88% stake in HSC. As a major shareholder and an organization related to HSC’s insiders, HFIC has a significant influence on the company.
Mr. Tran Quoc Tu, a member of HSC’s Board of Directors, is the Head of the Legal Department at HFIC and represents over 57.6 million HCM shares (8% of the capital) of HFIC in HSC.
Additionally, Ms. Phan Quynh Anh, Deputy Head of Finance and Accounting Department at HFIC, also serves as a member of HSC’s Board of Directors. She represents over 43.2 million HCM shares, equivalent to a 6% stake in HSC, on behalf of HFIC.
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