In just the first half of January 2025, many capital mobilization deals on the stock market through the issuance of stocks and bonds have shown remarkable signs.
In just the first half of January 2025, many capital mobilization deals on the stock market through the issuance of stocks and bonds have shown remarkable signs.
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| Many state-owned banks are preparing to implement capital increase plans. |
"Hot" from the beginning of the year
In mid-January 2025, the public bond offering of DNSE Securities Joint Stock Company (code DSE) with a total value of VND 300 billion was officially closed after nearly a month of receiving registrations from investors. This bond is non-convertible, without warrants and without collateral, with a term of 24 months, paying interest every 6 months.
The entire amount of bonds has been distributed to nearly 300 bondholders. Of which, 7 organizations have purchased nearly 87% of the issuance. The remaining, although accounting for only 13.28%, the bonds worth nearly 40 billion VND were distributed to 289 individuals. This successful issuance is also the first time DNSE has issued bonds to the public, after many previous private bond issuances. This securities company "opened" the stock market in early 2024 with a public share issuance, also attracting more than 600 investors.
After one year, this securities company chose the bond channel. The capital raised from the issuance was used to supplement capital for securities advance payment services and margin trading as well as to increase capital for securities trading and investment in valuable papers.
While DNSE has just completed raising capital, last weekend was also the trading day without the right to purchase newly issued shares of Yeah1 Group Corporation (code YEG). The shareholder list is closed today (January 20). Accordingly, Yeah1 will issue an additional 54.8 million shares to raise VND548 billion.
In addition to using more than 60% to pay for capital contribution to 1Production Company Limited (VND211 billion) and repay the loan to buy shares of Yeah1 Edigital JSC (VND127.09 billion), Yeah1 used more than VND100 billion to repay the loan to buy shares of Netlink Vietnam Technology Media JSC; VND62.4 billion to pay off the loan from VietinBank. The remaining VND47 billion was used to supplement capital to carry out regular business activities. Existing shareholders who want to continue to maintain their holding ratio will order and pay to buy more shares from February 3 to March 3.
The law amending 9 laws in the field of finance and budget has been officially issued, which will increase transparency and standards for the market, helping investors feel more secure. 
Not only the issuance deals aimed at a large number of existing shareholders, BIDV's private offering plan, which was proposed in 2022, will soon "move", expected to be completed in the first quarter of 2025. The list of buyers was just "revealed" by BIDV in early January. Of the 5 investors participating in the purchase of shares, 4 are members of the foreign fund Dragon Capital. The volume of shares that members of the foreign fund Dragon Capital plan to buy is more than 85 million shares. The remaining, the State Capital Investment Corporation (SCIC) with the expected quantity to buy nearly 39 million shares.
With the offering price of VND38,800/share, the total amount of money raised is more than VND4,800 billion. This amount will be used by BIDV to supplement business capital, credit activities (VND4,084 billion), carry out investment activities (VND481 billion) and invest in facilities, technology, and improve the competitiveness of the business network (VND240 billion).
Similarly, other state-owned banks are also preparing to implement capital increase plans. At the extraordinary general meeting of shareholders in August 2024, VietinBank's leaders revealed their expectation of completing the private share issuance plan in the first half of 2025 if the market is favorable. VietinBank's Chairman of the Board of Directors also said that the bank has been allowed to retain all of its 2022 profits of more than VND11,000 billion to increase capital through stock dividends.
"Go with the flow"
In the last trading session of the week, Yeah1's YEG stock increased by a large margin. Investors who bought shares in this session will not be under pressure to pay additional capital contributions. Previously, the decline that lasted nearly 3 trading weeks took away nearly half of the company's market capitalization and also the entire "achievement" in the rapid increase since December 17. The reason for this decline, in addition to the adjustment effect due to overheating, also partly comes from the story of capital increase that could cause selling pressure on existing shareholders.
The time when YEG shares received a lot of attention thanks to the heat from the program "Anh trai qua ngan cong gai" was also the time when Yeah1 announced the implementation of the plan to offer to existing shareholders (approved since September 2024). Not only the price fluctuated, the liquidity of the shares also skyrocketed since the beginning of December 2024, when most sessions had a trading volume of over 5 million units, even some sessions had over 10 million units.
“Going with the flow” from expectations, although the financial report for the fourth quarter of 2024 will not be released until this week, this is the time to raise capital with a high probability of success. More than 6 years since Yeah1 appeared on the stock exchange with the mark of large-priced shares (up to 250,000 VND/share), this is the first time this enterprise has raised new capital from existing shareholders.
Analysts are quite positive about profit growth in 2024. According to experts from VPBankS, half of the 18 industries monitored by this securities company can achieve double-digit growth or more. The profit picture in 2025 is still forecast to be positive with a profit growth rate of 25-30% thanks to the economic recovery trend.
The law amending 9 laws in the field of finance and budget was officially issued at the end of 2024, adding many additional conditions when enterprises issue securities to the public, along with increasing the responsibility of consulting parties.
Although the cost and time to prepare for deals may increase, Mr. Dang Thanh Cong, Director of Northern Investment Banking Services (KB Securities Joint Stock Company - KBSV) assessed that the new regulations will certainly increase transparency and standards for the primary market. The improved quality of "goods" will help investors feel more secure when investing and promote market development in the future.
Source: https://baodautu.vn/soi-dong-huy-dong-von-dau-nam-2025-d241412.html
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