The Billionaire’s Bet: A Venture into the World of Finance and Enterprise

Vietcap Securities JSC (code: VCI) has announced that Mr. To Hai – Member of the Board of Directors and CEO – has completed the purchase of 250,000 VCI shares.

Following this transaction, Mr. To Hai now holds 129.1 million VCI shares, representing 17.87% of Vietcap’s charter capital and making him the largest shareholder of this securities company.

The shares purchased by Mr. To Hai were part of Vietcap’s issuance of 4.5 million ESOP shares at a price of 12,000 VND per share. These ESOP shares will be subject to a one-year transfer restriction. It is estimated that the CEO of Vietcap spent approximately 3 billion VND to purchase these shares.

On the stock exchange, VCI is currently trading around 35,500 VND per share, an 11% decrease from its peak in March this year. Thus, Mr. To Hai has purchased the above-mentioned shares at a price 66% lower than the market price.

In addition to purchasing Vietcap’s ESOP shares, entrepreneur To Hai also recently participated in the share offering to existing shareholders of Vietnam Commercial Joint Stock Bank (BVBank, code: BVB) through the exercise of rights.

Accordingly, at the end of the offering period, BVBank distributed 68.97 million shares (accounting for 99.99% of the 68.98 million shares registered for offering) to 5,704 shareholders.

Of these, 51.37 million shares were distributed to 5,703 investors during the period from April 22 to May 16, 2025. The remaining 17.59 million shares that were not subscribed during the offering were distributed to 14 investors, including 13 existing shareholders who exercised their rights to purchase additional shares issued during the offering.

Out of the total of 5,704 shareholders who participated in this offering by BVBank, 5,690 domestic investors received 68.93 million shares, and 14 foreign investors received 43,001 shares. The remaining 12,485 shares that were not fully subscribed by foreign investors through the exercise of rights were redistributed to domestic investors.

Notably, in the list of 14 investors who participated in the second offering round ending June 16, Mr. To Hai purchased the most shares with 3.5 million. At the offering price of 10,000 VND per share, the CEO of Vietcap will have to spend 35 billion VND to own these shares, which is 23% lower than the current market price of BVB shares.

It is worth mentioning that Mr. To Hai is also the Chairman of the Board of Directors of International Dairy Lof Joint Stock Company (code: IDP). As of the end of 2024, Mr. Hai did not hold any IDP shares.