Yuanta to increase charter capital
Yuanta to increase charter capital
Brokerage firm Yuanta Securities Vietnam plans to issue 70 million additional shares to raise its charter capital to VND1 trillion (US$44.4 million) from the current VND300 billion.
The capital increase aims to provide extra funding for the company’s business activities, improve its financial capability and develop new products and services for the market as well as meet the requirements of the State Securities Commission.
The capital hike plan is parts of the company’s strategy to meet the increasing demand of investors as the stock market is forecast to improve and set new highs this year, according to the firm’s chairman Le Minh Tam.
Yuanta Securities Vietnam was renamed from De Nhat Securities Company after Tam transferred 16.6 million shares or a 55.3 per cent stake of the latter to Taiwan-based Yuanta Securities on December 7, 2017.
According to the firm’s financial report, Yuanta Securities Vietnam recorded VND700 billion worth of total assets as of the end of June. The figure included VND510 billion worth of margin lending.
The company has 30 million shares trading on the Unlisted Public Company Market (UPCoM) as FSC. Its shares stood at VND11,200 per share on Friday.
