AsemconnectVietnam - At the 2023 Annual General Meeting of Shareholders, Nhat Viet Securities (VFS) approved a plan to sharply increase its charter capital to VND2,400 billion and transfer registration for trading shares on Upcom to listing shares on HOSE or HNX.

In 2022, Nhat Viet Securities (VFS) recorded a revenue growth of nearly 26% compared to 2021 to reach VND 170 billion and exceeded 12% of the 2022 plan. The main driving force came from the brokerage and financial services with growth of 49% and 48% respectively over the same period.
In 2022, although VFS's profit after tax is only nearly VND63 billion, down 30% compared to 2021, but this is considered a positive business result in the context of the stock market going down causing difficulties for the whole industry.
Business plan to grow with the driving force of brokerage and financial services
In the context that the stock market is expected to be more prosperous in 2023, revenue and profit after tax are expected to reach VND230 billion and VND80 billion, respectively, up 35% and 27% compared to 2022. In addition, the securities brokerage and financial services segments are focused on development with expected revenue growth of 73% and 65% in 2023. In addition, VFS also plans to expand into a derivative product to diversify the products offered to investors, contributing to attracting more customers.
Increase charter capital to VND2,400 billion and change the listing floor
VFS plans to increase its charter capital to VND2,400 billion with the plan of issuing shares for private placement and issuing shares to existing shareholders at the ratio of 1:1. The additional capital is expected to be used by the company for securities trading and margin lending.
Besides, Nhat Viet Securities aims to move the listing of VFS shares to the HSX or HNX. Changing the stock exchange registration helps the company improve its position and have more opportunities to attract investment capital.
With this capital increase, VFS will be in the top 20 securities companies with the largest charter capital on the stock market and promises to be an important driving force for the company's sustainable development in the coming years.
At the same time, the election to replace members of the Board of Directors and the Supervisory Board at the General Meeting of Shareholders in 2023 is expected to bring a new wind to the development of the company in the future.
N.Nga
Source: VITIC/Tinnhanhchungkhoan