Techcom Securities will increase its charter capital 9 times in 2024

After the dividend payment and the upcoming large bonus distribution, the charter capital of Techcom Securities Corporation (TCBS) is expected to rise to second place in the group of securities companies.

On October 4, Techcom Securities Corporation (TCBS) completed collecting shareholders' written opinions to approve the amendment and supplement of the charter and operating regulations of the board of directors.

At the same time, an important content that has been approved is the content of changing the implementation plan of the equity share issuance plan approved by the 2024 Annual General Meeting of Shareholders.

According to the final approved plan, TCBS plans to issue more than 1.74 billion bonus shares in 2024, equivalent to 800% of outstanding shares. Shareholders owning 100 shares will receive an additional 800 shares. After the capital increase, the number of shares will increase to more than 1.96 billion shares, equivalent to a charter capital of more than VND 19,613.2 billion. The total share ownership of foreign investors at present and expected after the charter capital increase remains unchanged (1.0335% of charter capital).

Expected release date in 2024.

Previously, in mid-September 2024, TCBS's Board of Directors approved changes to the capital increase implementation plan, including but not limited to: withdrawing the issuance registration dossier submitted to the State Securities Commission; submitting to the General Meeting of Shareholders for approval the contents related to the issuance of shares to increase equity capital from equity capital; performing tasks and procedures related to changes to the implementation plan of the issuance plan.

According to the announcement at that time, the capital increase was postponed because the company would resubmit the issuance registration dossier to the State Securities Commission after completing the above-mentioned tasks. Thus, the above-mentioned proposal approved by shareholders will be the basis for the additional dossier of this securities company.

The report sent to shareholders also stated that TCBS carried out the capital increase to serve the company's business activities in accordance with legal regulations and the principle of safety and efficiency. The source of capital for the issuance comes from the surplus of equity capital (VND 9,191.9 billion) and undistributed profit after tax (VND 8,242 billion).

TCBS's surplus capital increased in 2023 after a private issuance of 105 million shares to a single investor, Vietnam Technological and Commercial Joint Stock Bank, at an issuance price of up to VND95,600/share. The issuance helped the company earn more than VND10,000 billion. However, the charter capital increased only slightly.

Using the entire capital surplus due to the difference between the issue price and par value in the 2023 offering along with a large amount of accumulated profits will help TCBS quickly rise to the top position in terms of charter size.

SSI is currently the securities company with the largest charter capital. On September 24, SSI closed the list of shareholders receiving 2023 cash dividends (VND 1,000/share), issued shares from equity (ratio 100:20) and offered to existing shareholders (ratio 100:10) at a price of VND 15,000/share. With the bonus distribution ratio of 100:20, the number of outstanding voting shares is 1.81 billion shares. The offering of shares to existing shareholders is expected to be carried out until November 4. If 100% of the distribution is successful, the charter capital will increase to VND 19,625 billion.

Source: https://baodautu.vn/chung-khoan-ky-thuong-se-nang-von-dieu-le-gap-9-lan-ngay-trong-nam-2024-d226678.html