HD Securities reported a pre-tax profit of VND 380 billion after 9 months of 2023

In the third quarter of 2023, HD Securities Corporation (HDS)'s revenue reached VND 543 billion, up 60% over the same period in 2022. Following positive results in the first half of the year, HDS's cumulative revenue in the first 9 months reached VND 1,518 billion, more than double that of the same period last year.

The company has a charter capital of 1,000 billion VND. Pre-tax profit in the third quarter of 2023 will reach 202 billion VND, up 25% over the same period, and accumulated in the first 9 months of 2023 will reach 380 billion VND, up 68% over the same period.

With the results achieved after 9 months, HDS has far exceeded the revenue plan and nearly completed the annual profit plan set by the General Meeting of Shareholders.

With safe and effective operating results and good financial indicators, HDS is ready for a sustainable development plan, contributing to building a healthy capital market, welcoming the future of market upgrade.

In a related development, in early October, HDS announced a resolution of the Board of Directors on implementing a plan to offer shares to existing shareholders to increase charter capital for HDS.

Accordingly, HDS will offer more than 67.5 million shares to existing shareholders with a right exercise ratio of 100:66 (shareholders owning 100 shares on the shareholder record date to exercise rights will have the right to buy 66 additional issued shares).

The right to purchase shares may be transferred in part or in full. The right to purchase may only be transferred once and the transferee may not transfer it to another third party. The right to purchase shall not be converted into cash in any form.

The offering price is VND 15,000/share. The expected offering time is in the fourth quarter of 2023 - the first quarter of 2024 and after being approved by the State Securities Commission. It is expected that after completing the additional share issuance, HDS's charter capital will reach VND 1,689.18 billion.

Regarding the capital use plan, it is expected that the total capital collected will be more than 675 billion VND, HDS will use 40% to supplement capital for margin lending activities and advance sales; use 40% for securities trading investment activities; the remaining 20% will be used for other legal activities such as investment in technology infrastructure .

Thu Huong

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