What does the owner of Vietcap Securities (VCI) own?

Shareholders just sold 13 million VCI shares, which own many famous brands.

Businesswoman Truong Nguyen Thien Kim is known as the owner of a series of famous brands in the F&B industry such as the Phe La coffee chain or Katinat Cafe. At the time of establishment, Ms. Kim controlled up to 50% of the charter capital of these two brands.

Ms. Thien Kim is also holding leadership positions at International Dairy Products Joint Stock Company (IDP), Ben Thanh Trading and Service Joint Stock Company (BTT), Western Bus Station Joint Stock Company (WCS)...

Vietcap Securities (VCI) has just been 'dumped' 13 million shares (Photo TL)

In addition, Ms. Kim is also mentioned as the wife of Mr. To Hai, General Director of Vietcap Securities JSC (Code: VCI). However, Ms. Kim's recent transaction of selling 13.2 million VCI shares has caused this businesswoman to no longer be a major shareholder at Vietcap Securities.

Specifically, Ms. Thien Kim registered to sell 13.2 million VCI shares for personal needs. The registration period for sale is from September 4, 2024 to October 3, 2024. The transaction is carried out by order matching or negotiation. It is estimated that Ms. Thien Kim earned about VND 623 billion from this transaction.

If the entire 13.2 million shares are successfully sold, Ms. Kim will only hold 9.6 million shares, equivalent to 2.18% of the charter capital. Thus, Ms. Kim will no longer be a major shareholder of Vietcap Securities.

Ms. Thien Kim's share sale transaction took place right after receiving a cash dividend advance of 4%. With the number of shares she holds, Ms. Kim is estimated to receive 9.1 billion VND. Ms. Kim's husband, Mr. Hai, General Director of Vietcap Securities, received 39.6 billion VND.

How is Vietcap Securities doing?

Regarding business activities, in the second quarter of 2024, Vietcap Securities recorded operating revenue of VND 915.8 billion. Profit after tax reached VND 279.2 billion, an increase of nearly 140% over the same period last year.

The company explained that this positive business result was due to positive market conditions, the proprietary trading segment recorded a sharp increase in profits from some investments. Of which, the profit from FVTPL financial assets reached VND447.6 billion, 4.4 times higher than at the beginning of the year.

In addition, lending activities also recorded a revenue increase of 38%, reaching VND234.5 billion. Brokerage activities also recorded a growth of 30%, reaching VND180.7 billion.

Revenue grew strongly, but on the contrary, the expenses also increased significantly. Of which, operating expenses accounted for 360 billion VND, 2.5 times higher than the same period. Losses from FVTPL financial assets also increased by 450% to 198.4 billion VND. Operating expenses increased more than 3 times, accounting for 10.8 billion. Securities brokerage expenses also increased by 51%, accounting for 134.8 billion VND.

VCI's accumulated operating revenue in the first 6 months of 2024 reached VND 1,722.2 billion, up 72.2% over the same period. Profit after tax reached VND 477 billion, up 2.5 times. Compared to the 2024 plan, the company has completed 80% of the year's results.

Assets increased sharply along with the increase in debt

At the end of the second quarter of 2024, VCI's total assets reached more than VND 23,100 billion, an increase of 34% compared to the beginning of the year. Notably, most of the increase in assets came from debt.

Specifically, payables increased by nearly VND10,000 billion, accounting for VND14,200 billion. Compared to the beginning of the year, the amount of payables increased by 44%. Most of the increase came from short-term loans, which increased by nearly 38%, from VND9,000 billion to nearly VND12,300 billion.

However, the company's assets also recorded a sharp increase of 7.2 times in cash, accounting for VND 3,900 billion. FVTPL financial assets also increased 8.2 times, accounting for more than VND 1,000 billion. Other assets increased by 20%, accounting for VND 8,500 billion. The outstanding loan balance at the end of the second quarter of 2024 was also recorded at VND 7,900 billion, unchanged from the beginning of the year.

Source: https://www.congluan.vn/nu-doanh-nhan-thien-kim-vua-xa-ban-132-trieu-co-phieu-vietcap-vci-dang-so-huu-nhung-gi-post309708.html