Brokerage firm HSC (HCM) delays annual meeting

HCM City Securities Corporation (HSC) has decided to postpone its annual shareholders’ meeting due to the coronavirus.

 

The meeting was scheduled for April 22. The rescheduled meeting will be no later than June 30.

HSC also advised clients to trade via its online platform to avoid becoming infected by the virus.

In 2020, HSC plans to raise VND8.6 trillion (US$362 million) from lending and bond issuance. The figure is up 43.3 per cent year on year and double the firm’s equity.

The HCM City-based brokerage in 2019 earned VND1.26 trillion in total net revenue, down 26 per cent year on year and fulfilling 76 per cent of its full-year target.

Total post-tax profit in 2019 fell 36 per cent on-year to VND432 billion, leading to a return-on-average equity (ROAE) ratio of 11.7 per cent.

Earnings-per-share (EPS) was VND1,596. At the end of 2019, total assets had increased by 42 per cent on-year to nearly VND7.5 trillion.

HSC has nearly 306 million shares listed on the Ho Chi Minh Stock Exchange (HoSE) under code HCM.

The company's shares surged 6.7 per cent to trade at VND12,700 apiece on Friday. Its shares have lost a total of 42.8 per cent since the end of January.

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HCM 19,500 700 +3.72%

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