MB Securities Corporation (MBS, HNX) has announced its preparatory documents for the 2025 Extraordinary General Meeting of Shareholders, scheduled for the morning of December 16, 2025, at MB’s headquarters in Hanoi. The shareholder list was finalized on November 19, 2025.
The meeting’s key focus is the continued implementation of the Employee Stock Ownership Plan (ESOP) and the issuance of additional shares to increase the charter capital.
Firstly, the Board of Directors (BOD) will present the continued ESOP issuance plan, previously approved in Resolution No. 01/NQ-MBS-ĐHĐCĐ dated April 15, 2025, along with the eligibility criteria for participating employees.
Specifically, MBS plans to issue 8.59 million shares under the ESOP at VND 10,000 per share. The proceeds of over VND 85.9 billion will be allocated to supplement margin trading activities.
50% of the ESOP shares will be restricted from transfer for 3 years, and the remaining 50% for 5 years.
Previously, in Resolution No. 85 dated September 29, 2025, the BOD approved a list of 322 employees eligible to purchase ESOP shares. Notably, Chairman Le Viet Hai is set to receive the largest allocation at 570,000 shares, followed by Vice Chairwoman and CEO Phan Phuong Anh with 528,194 shares. Board members Nguyen Minh Hang and Pham Xuan Thanh are each allocated 200,000 shares.
Secondly, MBS will propose the issuance of up to 333.6 million shares to existing shareholders at a ratio of 2:1, allowing shareholders holding 2 shares to purchase 1 additional share.
The newly issued shares will be freely transferable, with shareholders permitted to transfer their purchase rights once. The issuance is expected to take place in 2026, following the completion of the ESOP.
The offering price is set at VND 10,000 per share, with MBS anticipating proceeds of up to VND 3,336.5 billion. Of this, VND 1,000 billion will be allocated to proprietary trading, and VND 2,336.5 billion to margin lending.
Over the past two months, MBS has successfully executed two capital increase plans. On September 25, 2025, the company completed the distribution of 17.18 million shares to increase equity capital from owner’s equity. Subsequently, on November 13, 2025, MBS finalized the issuance of 68.73 million shares to existing shareholders through a rights offering.
With these completions, MBS’s charter capital has risen to VND 6,587.2 billion.
In terms of business performance, MBS recorded VND 2,623 billion in revenue for the first nine months of 2025, an 11% increase year-on-year. Cost-cutting measures contributed to pre-tax profits of VND 1,030 billion and post-tax profits of VND 823 billion, up 42% compared to the same period last year. This equates to 79% of the annual profit target.
As of September 30, 2025, MBS’s total assets stood at VND 30,535 billion, a 38% increase since the beginning of the year.
Half of the total assets comprise loans of approximately VND 15,700 billion, up VND 5,400 billion year-to-date, primarily in margin lending. Held-to-maturity investments account for VND 7,000 billion, an increase of VND 2,000 billion in the first three quarters.
The FVTPL portfolio has a book value of over VND 2,700 billion, up VND 700 billion year-to-date. This includes VND 1,000 billion in bonds and VND 1,600 billion in other securities, with equity holdings reduced from VND 157 billion to VND 26 billion, currently reflecting a near 90% unrealized loss.
The AFS financial assets portfolio totals VND 2,900 billion, with VND 2,500 billion in bond investments and VND 300 billion in equities.
On the funding side, MBS has over VND 19,500 billion in short-term debt, primarily from bank loans. Long-term bond debt exceeds VND 1,500 billion, up VND 500 billion year-to-date. These bonds, issued between 2023-2025 with interest rates of 6.8-7.6% per annum, will mature in 2027-2028.
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