TCBS mobilized nearly 1,400 billion VND from 25 individuals

These individuals are senior leaders, key positions, difficult to recruit organizations/individuals who are important partners for the development of TCBS as proposed by the Chairman of the Board of Directors. The purchase price is lower than the book value per share.

These individuals are senior leaders, key positions, difficult to recruit organizations/individuals who are important partners for the development of TCBS as proposed by the Chairman of the Board of Directors. The purchase price is lower than the book value per share.

TCBS continues to increase capital after the split, raising charter capital to 19,613 billion VND.

Techcom Securities Joint Stock Company (TCBS) has announced the resolution of the Board of Directors on approving the registration dossier for offering and implementing the plan to offer individual shares to increase charter capital. Previously, the Resolution of the General Meeting of Shareholders (taking written opinions) of TCBS approved the plan to offer nearly 119 million individual shares. The expected offering price is VND 11,585/share, equivalent to a maximum mobilization of nearly VND 1,377 billion. The expected implementation time is in the first and second quarters of 2025.

If the issuance is successful, TCBS's charter capital is expected to reach VND20,802 billion. This is the highest level among securities companies.

The investors offered in this private offering are 25 professional securities investors such as senior leaders, members of the Board of Directors, directors of functional areas, key positions, difficult to recruit, who have/will make important contributions to the implementation of TCBS's strategy. In addition, organizations/individuals who are important partners and have made great contributions to the development of TCBS as proposed by the Chairman of the Board of Directors are also eligible to buy.

TCBS said the purpose of the offering is to show gratitude and retain TCBS's managers, employees and important partners; and to increase capital for business activities and diversify the ownership structure. The shares offered are restricted from transfer within 1 year from the date of completion of the offering as prescribed in Article 31 of the 2019 Securities Law.

In this resolution, TCBS announced the list of 25 professional investors who were allowed to buy shares from the private offering. Topping the list is Mr. Nguyen Xuan Minh - Chairman of the Board of Directors of TCBS. TCBS's report did not specifically announce the amount of shares each individual was allowed to buy. However, on average, each person contributed up to 56 billion VND.

25 professional securities investors are senior leaders, key positions, difficult to recruit are important partners for the development of TCBS proposed by the Chairman of the Board of Directors.

In November, TCBS issued more than 1.74 billion shares to existing shareholders to increase its equity capital. Shareholders owning 1 share will receive 8 new shares. The issued capital is taken from the owner's equity at the end of 2023, including capital surplus (nearly VND 9,192 billion) and undistributed profit after tax (VND 8,242 billion). After the capital increase, the number of shares increased to more than 1.96 billion shares, equivalent to charter capital of VND 19,613 billion.

According to the financial report for the third quarter of 2024, the book value per share of TCBS is approximately VND 117,377. After the split, with the number of outstanding shares increasing 9 times, the book value per share is estimated to decrease to VND 13,041. With the offering price for strategic shareholders (VND 11,585/share), the P/B ratio, used to compare the stock price on the market with the book value, is less than 1.

In addition to raising new capital from capital increase issuance, this securities company also increased its bond capital. In early December 2024, TCBS also announced a plan to offer VND5,000 billion in bonds to the public through 4 issuances. The expected implementation period is from the fourth quarter of 2024 to the fourth quarter of 2025. The mobilized capital will be used to invest in securities brokerage activities, margin trading, advance payment for securities sales and legal business activities; and investment in securities trading activities.

In 2024, TCBS plans to achieve a revenue target of VND 6,420 billion and a pre-tax profit of VND 3,700 billion, both up 22% year-on-year. After 9 months, the company has achieved 90% of its revenue target and exceeded its profit plan by 5% (VND 3,869 billion). Return on equity (ROE) and return on total assets (ROA) as of September 30, 2024 are 16% and 8%.

Source: https://baodautu.vn/tcbs-huy-dong-gan-1400-ty-dong-tu-25-ca-nhan-d234719.html