Vietcap Securities will offer 143.63 million shares to strategic investors.

Vietcap will offer 143.63 million shares to strategic investors, the principle of determining the offering price is not lower than the Company's book value at December 31, 2023, which is VND 16,849/share (based on the audited financial statements of 2023).

According to the newly announced documents of the General Meeting of Shareholders of Vietcap Securities Corporation (VCI), Some business activities of securities companies such as margin lending, investment, etc. are subject to regulatory restrictions based on the Company's equity, so in order to continue to maintain the Company's growth momentum and market share, it is necessary to expand charter capital to prepare for the next stages of market growth.

Accordingly, the company will issue ESOP shares in order, issue capital increase from equity and issue privately to strategic partners.

Specifically, the company plans to issue 4.4 million ESOP shares (equivalent to 1% of charter capital), with an issuance price of VND 12,000/share. The total proceeds after issuing shares to employees are expected to be used to supplement the company's working capital and reduce debt.

After completing the ESOP issuance, the company will issue an additional 132.57 million shares to increase its equity capital from owners' equity, at a rate of 30%. After issuance, the expected charter capital is VND5,744.7 billion.

Upon completion of the above 2 issuances, the company plans to offer 143.63 million shares (equivalent to 20% of new capital) to professional/strategic investors, the principle of determining the offering price is not lower than the Company's book value at December 31, 2023, which is VND 16,849/share (based on the audited financial statements of 2023). Authorize the Board of Directors to decide based on the above Principles for Determining the Offering Price. Shares are restricted from transfer for at least 1 year from the date of completion of the offering.

If successful, VCI's total outstanding shares will be 718.1 million shares, with charter capital of VND7,181 billion.

Based on the book value as of December 31, 2023, the company's book value is VND 16,849/share, the total amount expected to be collected from the private offering is at least VND 2,420 billion. It is expected to disburse VND 2,120 billion for margin lending activities and VND 300 billion for proprietary trading activities. The expected implementation time is 2024 and the first quarter of 2025.

In 2024, VCI plans to have operating revenue of VND 2,511 billion and pre-tax profit of VND 700 billion. Dividends of 5-10%. This plan is based on the fact that the world and Vietnam's macro-economy is expected to remain volatile and continue to develop complicatedly, and the VN-Index is forecast to fluctuate around 1,300 points by the end of 2024.

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