Tuesday, June 18,2024 - 6:44 GMT+7  Việt Nam EngLish 

FPT Securities (FTS) plans to profit VND420 billion, down 17.65% in 2024 

 Tuesday, March 19,2024

AsemconnectVietnam - FPT Securities Joint Stock Company (FTS code - HOSE) announced the documents of the 2024 Annual General Meeting of Shareholders, the meeting is scheduled to be held on March 28, 2024.

In 2024, FPT Securities plans revenue of VND845 billion, down 8.29% compared to 2023, pre-tax profit of VND420 billion, down 17.65% compared to 2023.
Regarding the stock market, FPT Securities forecasts that the liquidity and score of the Vietnamese stock market in 2024 will be supported by low interest rates and the Government's focus on growth stimulating policies. However, there are concerns that strong exchange rate fluctuations will have a negative impact on the market.
In addition, the KRX system can officially be put into operation. However, there are no new products and not many new stocks listed/registered for trading on the market. And especially, competition in transaction fees and margin lending interest rates among securities companies is fiercer than before.
Regarding business results in 2023, FPT Securities recorded revenue and pre-tax profit of VND921 billion and VND510 billion, respectively, down 12% and 20% over the same period last year.
With business results in 2023, FPT Securities also presented shareholders with a plan to pay dividends in 2023 at a rate of 5% in cash, equivalent to 500 VND/share. Thus, the total amount of dividend payments to shareholders in 2023 is about VND107 billion and is expected to be deployed in the second quarter of 2024.
Issued an additional 91.33 million shares
Regarding the capital increase plan, FPT Securities presented shareholders with two capital increase proposals for 2024.
First, FPT Securities presented shareholders with a plan to issue shares to increase capital from equity sources for existing shareholders at a ratio of 10:4, equivalent to shareholders owning 100 shares will receive an additional 40 new shares and deployed in the second quarter to the third quarter of 2024.
It is estimated that FPT Securities will issue 85.8 million new shares.
In addition, FPT Securities submitted to shareholders a plan to issue shares under the 2024 employee option program (ESOP). Of which, the Company plans to issue 5.53 million shares, equivalent to 2.58% of the total outstanding shares at an issuance price of only 10,000 VND/share and is expected to deploy in the second quarter to the third quarter of 2024.
ESOP shares can only be transferred 50% after 1 year of issuance and the rest will be transferred after 2 years from the time of issuance.
It is known that with the closing price of the trading session on March 6 of 61,500 VND/share, the key Board of Directors of FPT Securities will be able to buy ESOP shares at a price of 10,000 VND/share, corresponding to 83% lower. 7% compared to current market price.
Regarding personnel, FPT Securities submitted to shareholders the dismissal of Mr. Taro Ueno from the position of member of the Board of Directors for the 2023 - 2028 term. On the contrary, submit to shareholders to nominate Mr. Kenji Nakanishi to the position of Member of the Board of Directors for the 2023 - 2028 term.
It is known that Mr. Kenji Nakanishi was born in 1966, has Japanese nationality, and has a bachelor's degree in Law. In particular, from May 2023 until now, Mr. Kenji Nakanishi is working as CEO at SBI Royal Securities Plc (Cambodia), a unit of SBI Holdings Inc.
Source: VITIC/Tinnhanhchungkhoan


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