AsemconnectVietnam - SmartInvest Securities (AAS) received a license to issue shares with a dividend rate of 50%; Tri Viet Securities (TVB) consolidates its personnel and anticipates market recovery opportunities; VNDIRECT (VND) increase capital to VND17,800 billion.

SmartInvest Securities (AAS)
SmartInvest Securities Joint Stock Company (code AAS) has received the Certificate of Public Offering Registration No.115/GCN-UBCK issued by the State Securities Commission on June 7, 2023.
According to the Offering License, SmartInvest Securities is issued with a quantity and offered to the public 120 million shares, of which 40 million shares are issued to pay dividends in 2021 (rate of 50%) and offer additional 80 million shares to the public.
This is the capital increase plan approved at the annual general meeting of shareholders in 2022. After this issuance, the charter capital of SmartInvest will increase to VND2,000 billion. After obtaining a license to register for an offer, the enterprise has a time limit of 3 months to do so.
In 2022, SmartInvest achieved VND1,227 billion in operating revenue and VND319 billion in after-tax profit in the difficult context of the corporate bond market.
With the current charter capital of VND800 billion, according to the 2022 audited financial report, the total assets of SmartInvest Securities is VND2,307 billion, of which more than VND2,103.8 billion are short-term assets, mainly capital sources to trade in valuable papers, trade in bonds and lend to securities trading customers. AAS shares are trading at 14,500 dong/share, lower than the book value of more than 19,418 dong/share.
According to Finntrade's data, since the end of 2020, AAS's book value per share has nearly doubled since the end of 2020, increasing its charter capital by VND800 billion. From 11,179 dong/share before increasing charter capital, it increased to VND19,418/share by the end of Q1 2023.
Tri Viet Securities (TVB)
With many strong and drastic solutions to remove difficulties for businesses that the Government is implementing, the stock market is gradually stabilizing and recovering. Tri Viet Securities Joint Stock Company (HoSE: TVB) has prepared resources ready to seize new opportunities.
On June 17, 2023 TVB held an annual general meeting of shareholders to pass many important resolutions. Before the meeting, the Company received the license to adjust "The License for Establishment and Operation of Securities Company" No.49/GPDC-UBCK of the State Securities Commission, which contains the content of changing the legal representative from Mr. Pham Thanh Tung to Ms. Tran Thi Rong, General Director of the Company.
With a charter capital of VND1,129 billion, a healthy financial picture with almost no debt, TVB is likely to make a strong comeback when the stock market recovers.
Market reality shows that the number of new investor accounts opened in May 2023 has increased again by 100,000, bringing the total number of securities accounts in Vietnam to approximately 7 million, accounting for 7% of the population. The trading value of sessions has increased gradually from April, May and from the beginning of June until now, it has maintained VND16,000-VND17,000 billion/session. This is a positive sign, showing that individual investors have somewhat regained their confidence in the market after the big break in the fourth quarter of 2022.
The market trend in the second half of 2023 and in the medium and long term is considered to be positive although the market may rise and fall with many intertwined spans. This is a positive indicator for the activities of securities companies, of which TVB is a member.
Up to this point, it can be said that TVB has consolidated the Board of Directors, implemented solutions to stabilize operations, and improve the quality of services provided to investors. All employees of the Company are united and strive to overcome difficulties; the Company's operations are operated smoothly, stably and continue to develop.
Regarding financial capacity, TVB always ensures payment of its obligations to customers. For example, in the first quarter of 2023, the Company paid more than VND110 billion of bond principal and interest to investors ahead of time and on time. Specifically, on February 28, 2023, the Company bought back Tcorp 6.1 bonds, phase 2, for VND65.51 billion before maturity. On April 6, 2023, the Company closed the first installment of Tcorp 6.1 bonds due to maturity of VND47.93 billion. This demonstrates TVB's solid financial capacity and commitment to investors.
Previously, in the context of the stock market entering the "bear" period in early 2022, TVB decided to collect debts and reduce margin lending from more than VND1,000 billion to VND300 billion. This helps the Company not to have bad debts from margin lending activities.
According to the trend and experience of developed economies in the world, the scale of Vietnam's stock market will increase again with the increasing participation of individual investors and the growth of GDP and interest in financial investment channels. It is forecasted that the number of new accounts opened in the next 3-5 years will reach around 100,000 accounts/month, especially with eKYC technology which makes it easy to open securities accounts online and enter the market.
Grasping this trend, TVB has long prioritized investment in the technology system, ensuring safe and convenient transactions with customers, eKYC technology has been put into application by the Company by the end of 2022. Actively implementing digitalization of operations, TVB continues to review and improve products and sales channels to bring the best service and experience to investors.
With a solid financial foundation, a team of qualified and committed personnel, and a well-invested technology system, TVB is ready to meet new opportunities on the stock market, along with the sustainable and long-term development with market members.
VNDIRECT (VND)
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