Securities firm hikes chartered capital to 1.01tr dong

HCM City Securities Joint Stock Co (coded HCM) announced to hold the annual shareholders meeting on April 8, 2011. This year, the company planned to obtain targeted revenue of 437 billion dong, pre-tax profit of 297 billion dong, increasing by 20 percent and 30 percent against the previous year.



The company would also collect shareholders’ opinions about issuing additional shares to raise chartered capital from 600 billion dong to 1.01 trillion dong in Q2. In details, the securities firm would issue 40 million shares to existing shareholders under the ratio of 3:2; and 1 million shares for HCM’s key staff at price of 10,000 dong per share.



The raised capital will be disbursed as follows: 100 billion dong for bond transactions, about 150 billion dong for self-trading activities and 150 billion dong for underwriting services.



In addition, the company also seek approval among the shareholders about raising 2010 dividend payment from 15 percent to 17 percent.



In the first two months of 2011, HCM estimated to reach total pre-tax profit of 32 billion dong. The company expected to reach 50 billion dong of Q1 profit.

Tags: Vietnam stock news

Posted by VBN on Mar 23 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry