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VIX Securities (VIX) plans to grow in 2024 

 Monday, April 8,2024

AsemconnectVietnam - VIX Securities Joint Stock Company (code VIX - HoSE) announced the documents of the 2024 Annual General Meeting of Shareholders, the meeting is scheduled to be held on April 12 in Hanoi.

In 2024, VIX Securities plans a pre-tax profit of VND1,320 billion, an increase of 10% over the same period and an expected profit after tax of VND1,056 billion, an increase of 9% compared to the implementation in 2023.
Regarding the business plan for 2024, VIX Securities will promote brokerage activities through specialized customer-oriented solutions and promote margin lending activities with the goal of increasing the proportion of the brokerage segment, strengthening its position in the market and creating a foundation for sustainable development.
Continue to invest in information technology systems to improve service quality for transactional customers; Promote the search and invitation of new personnel, focusing on personnel who are suitable for the Company's culture and have enough capacity to implement strategic directions with the Company.
It is known that by the end of 2023, VIX Securities recorded operating revenue of VND1,623.96 billion, an increase of 37% over the same period and profit after tax recorded a profit of VND966.4 billion, an increase of 210% compared to the same period in 2022 and completed 105% of the profit plan of VND920 billion in fiscal year 2023.
Based on strong business results in 2023, VIX Securities presented shareholders with a plan to pay dividends in 2023 at a rate of 10% in shares.
In addition to paying stock dividends at a rate of 10%, VIX Securities also presented shareholders with a stock bonus plan at a rate of 10%.
Thus, if two issuances of dividends and bonus shares are completed, the charter capital of VIX Securities is expected to increase by VND1,338.9 billion, from VND6,694.4 billion, to VND8,033.3 billion.
Offering 635.97 million shares at 10,000 VND/share
A noteworthy point, in the upcoming Congress, regarding the capital mobilization plan, VIX Securities submits to shareholders a plan to offer shares to existing shareholders at a rate of 95%, equivalent to shareholders owning 100 shares. The shares have the right to buy 95 new shares at a price of 10,000 VND/share and the proposed implementation will be authorized for the Board of Directors to decide.
With 669.4 million shares outstanding, it is estimated that VIX Securities will issue an additional 635.97 million shares to mobilize VND6,359.7 billion.
The amount of money mobilized, VIX Securities will be used to supplement business capital to improve self-trading investment capacity and securities margin trading lending capacity. Of which, 50% of the mobilized amount will be used to supplement capital for self-investment activities; and the remaining 50% is used to supplement capital for securities margin trading lending activities.
Explaining the stock offering, VIX Securities said that due to the capitalization scale, the number of listed businesses continues to increase on all three exchanges, while the number of domestic and foreign investors is increasing on the market, the Government and the State Securities Commission are promoting the upgrade of the market... Therefore, securities companies need to increase their financial capacity to meet the capital needs of customers trading securities and can provide new products in 2024-2025 and following years.
It is known that, closing the trading session on March 22, VIX shares were trading on the market at 20,150 VND/share.
Thus, it is estimated that VIX Securities will offer 635.97 million shares at a price of 10,000 VND/share, corresponding to the offering price being 50.4% lower than the currently trading market price.
It is known that, according to historical data, in recent years, VIX Securities has continuously carried out capital increases. In particular, from September to October 2021, VIX Securities offered to sell shares to shareholders at a ratio of 1:1, corresponding to offering 127.7 million shares at a price of 10,000 VND/share; and by March 2022, VIX Securities continues to offer shares at a ratio of 1:1, corresponding to offering 274.6 million shares at a price of 15,000 VND/share.
In addition, VIX Securities is expected to also issue shares under the employee option program (ESOP) at a rate of 2.99% of the total number of outstanding shares, corresponding to a maximum issuance of 20 million. Stock price is 10,000 VND/share.
In particular, ESOP shares will be restricted from transfer within 1 year from the date of issuance.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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