AsemconnectVietnam - The Board of Directors of VNDIRECT Securities Joint Stock Company (stock code VND) has just approved a plan to issue a total of 499.4 million shares, raising the charter capital from more than VND12,178 billion to VND17,800 billion.

If the issuance is successful, VNDIRECT will become the securities company with the largest charter capital in the market.
Specifically, VNDIRECT issued 243.56 million shares through private placement to professional securities investors and directly to securities investors with the number of investors offering from 1 to 5 investors. The private offering price is determined on the basis of book value and market price at the time of making the offering, but not lowers than the average closing price of 10 consecutive sessions before the date the Board of Directors approves on the implementation of the private placement of shares.
Along with that, the Company also issued 243.6 million shares to offer to existing shareholders and 12.2 million ESOP shares at the price of VND10,000/share.
It is expected that the offering will be carried out in 2023 or 2024, after the approval of the SSC. The purpose of the offering is to increase the size of the Company's working capital to expand the customer's margin lending capacity, source trading capacity in the capital market, bond underwriting capacity, issuing and distributing covered warrants, supplementing capital for other lawful business activities of the Company.
According to the plan, on June 17, VNDIRECT is expected to submit to shareholders for approval its after-tax profit plan of VND1,600 billion, an increase of 17% compared to 2022. VNDIRECT's business plan is built on the baseline scenario with the Fed forecast to maintain interest rates at 5-5.25% until the end of the year; The conflict between Russia and Ukraine cools down; The US and Europe may have a slight recession but will recover from 2024. The company also plans to pay stock dividends at the rate of 5%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan