Securities firm issues over 17m shares to raise chartered capital to 524b dong

Viet Dragon Securities Joint Stock Co (coded VDS) has approved for issuing additional 17,489,993 shares in order to raise chartered capital from 349.8 billion dong to 524.7 billion dong.



Accordingly, VDS would offer the fore-mentioned shares to existing shareholders at applied ratio of 2:1 at offered price of 10,000 dong per share in the convenient time.



The company planned to supplement capital for investment activities, stock services and to improve underwriting capacity and for other business purposes.



In 2010, the company also aimed to reach targeted revenue of 237 billion dong, after tax profit of 40 billion dong and dividend payment of 8-10 percent.



Up to the end of 2011, VDS aimed to have at least 55,000 stock accounts, counting for 1.95 percent of the total market shares, and to be included in the Top Ten list on Hochiminh Stock Exchange (STC) and Top 15 on Hanoi Stock Exchange (HNX) in terms of market shares.



Last year, the company reported gaining total revenue of 198.6 billion dong, increasing by 35 percent year-on-year. However, the total costs surged by 84 percent to 173 billion dong, resulting in after tax profit of 21 billion dong.

Tags: Vietnam business

Posted by VBN on Mar 22 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