With 18,500 billion in margin lending, Ho Chi Minh City Securities (HCM) continues to increase capital

Ho Chi Minh City Securities Corporation (Code: HCM) has just announced that it will hold an extraordinary shareholders' meeting online on December 4, 2024. The closing date for the list of shareholders attending is October 30, 2024. The content of the meeting will be related to the plan to issue shares to existing shareholders to increase charter capital.

Ho Chi Minh City Securities - HSC (Code: HCM) is bringing in 18,500 billion VND in margin trading loans, preparing to raise more capital despite just offering shares for 1,780 billion VND (Photo TL)

Notably, in April 2024, this securities company completed an offering of 178 million shares to existing shareholders. The issuance volume was equivalent to 77.94% of the total number of shares offered, with an issuance price of VND 10,000/share.

In total, Ho Chi Minh City Securities raised VND1,780 billion and will use this amount to supplement margin lending activities and supplement capital for proprietary trading activities. After this issuance, HCM increased its charter capital from VND5,266 billion to VND7,048 billion.

Thus, although it has just completed the stock issuance to increase capital to 1,780 billion VND, HCM has prepared to increase capital once again.

Regarding business activities, in the first half of 2024, HCM recorded operating revenue of VND 1,957 billion, an increase of one and a half times compared to the same period. Operating expenses also increased from nearly VND 700 billion to more than VND 1,000 billion. As a result, HCM brought in VND 590 billion in after-tax profit, double that of the same period in 2023.

At the end of the second quarter of 2024, HCM's total assets reached VND 27,756 billion. Of which, VND 18,542 billion was margin lending and advances for securities sales.

Source: https://www.congluan.vn/mang-18500-ty-dong-cho-vay-margin-chung-khoan-tp-hcm-hcm-lai-tiep-tuc-tang-von-post316339.html