MB Securities Corporation (MBS) has announced its resolution to issue the first series of private bonds in 2025.
Accordingly, MBS plans to issue 5,000 bonds under the code MBS12501, with a face value of 100 million VND per bond, totaling 500 billion VND in issuance value.
These non-convertible bonds are unsecured and uncollateralized. The issuance will be conducted in one tranche via book-entry or electronic data. The purpose is to restructure existing debt.
The bonds have a 24-month term with a floating interest rate and are expected to be issued in September-October 2025.
In other developments, MBS will finalize its shareholder list on September 25 to issue shares for capital increase from equity and execute public offering rights.
MBS will issue 17.18 million shares to increase equity from retained earnings (bonus shares). The ratio is 100:3, meaning shareholders holding 100 shares will receive 3 new shares.
The issuance is funded by surplus capital from the audited 2024 financial statements. Bonus shares are unrestricted for transfer.
Additionally, MBS plans to offer 68.7 million shares to existing shareholders. The ratio is 100:12 (100 rights to buy 12 new shares).
Subscription and payment period: October 3–23, 2025. Rights transfer period: October 3–15, 2025.
Shares are freely transferable. Offer price: 10,000 VND/share, 72% below MBS’s September 12 closing price. MBS shares
MBS expects to raise 687.3 billion VND, allocating 150 billion VND for proprietary trading and underwriting, and 537 billion VND for margin lending.
These are two of three capital increase plans approved at MBS’s 2025 Annual General Meeting on April 15.
In H1 2025, MBS reported 1,461 billion VND in revenue, down 6%. Brokerage revenue fell 11% to 325 billion VND, and FVTPL asset profits dropped 38% to 300 billion VND.
Operating expenses decreased 44% to 390 billion VND, resulting in 611 billion VND pre-tax profit, up 22%.
MBS targets 1,300 billion VND in 2025 pre-tax profit. H1 results achieved 47% of this goal.
As of June 30, 2025, total assets reached 25,551.3 billion VND, up 15% from year-start.
Loans totaled 12,796 billion VND, up 24%. Margin debt hit a record 12,633.5 billion VND.
FVTPL assets totaled 3,127 billion VND, up 60%. Bonds: 1,012 billion VND; securities: 1,561 billion VND; equities: 509 billion VND (6% unrealized loss).
AFS assets totaled 1,668 billion VND, down 1,038.6 billion VND. Bonds: 1,376 billion VND; other securities: 200 billion VND; equities: 92 billion VND (56 billion VND impairment provision).
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