DNSE lists on HSX with valuation at nearly $390 million

Jul 2nd at 08:05
02-07-2024 08:05:08+07:00

DNSE lists on HSX with valuation at nearly $390 million

DNSE Securities went public on the Ho Chi Minh City Stock Exchange (HSX) with 330 million shares on July 1, and hit a company valuation of nearly VND10 trillion ($392.8 million).

 

HSX announced that it had granted the decision for listing and the commencement of trading of DSE shares to DNSE Securities.

DNSE is the only securities firm to issue an initial public offering (IPO) and gain approval for listing in the past five years. Along with DNSE, there are 16 securities firms listed on the HSX, Vietnam's largest stock exchange.

On the first day of trading, the reference price of DSE shares was VND30,000 ($1.18) apiece, equal to the initial public offering (IPO) price, with a fluctuation range of +/-20 per cent. With more than 330 million DSE shares listed, the company achieved a capitalisation of $388.9 million on its HSX debut.

DNSE Securities, formerly Dai Nam Securities, was founded in 2007 with a charter capital of VND38 billion, which has grown 86.8 times to reach $129.4 million today.

Before the IPO, the company increased its charter capital from to $117.6 million in May 2022. The firm raised its charter capital to $129.4 million after a successful IPO of 30 million shares.

In January 2024, the Finnish investment fund PYN Elite finalised its acquisition of a 12 per cent stake in DNSE.

Following the official listing on the HSX, DNSE Securities has realised its strategy to scale up its business. Meanwhile, the move also paves the way for the securities firm to raise funds from major local and international investors quickly and effectively, boosting transparency and reputation, thereby promoting strong growth in the future.

Nguyen Hoang Giang, chairman of the Board of Directors at DNSE Securities said, “The successful listing on the HSX marks a proud milestone for the DNSE team. DNSE has achieved its plan within three years of changing its model, completing the platform and infrastructure, and achieving the growth steps to meet the requirements for being listed on the HSX.”

DNSE's leaders will continue its strategy to attract customers and increase market share by diversifying its capital resources, supplying products and services with high technology content, and personalisation.

The company attributes its revenue and profit growth to its unique product portfolio, which is taking a lead in the market with diverse margin loan packages and virtual brokers providing quick information. The company also offers a diverse customer development network through API connections with financial partners such as ZaloPay or social network channels like Bull and Bear.

After the capital increase via the IPO and listing, in the next five years, DNSE aims to achieve five million customers, a capitalisation of $2.8 billion, and a profit of $94 million.

In the first quarter of 2024, DNSE posted a 21 per cent rise in revenue and 78 per cent in after-tax profits compared to the same period last year. Meanwhile, DNSE constantly tops the market in terms of new account openings. In the first five months of 2024, DNSE accounted for 30 per cent of the total new account openings in the market.

As of the end of June, DNSE was managing nearly $1.61 billion, equal to 1.7 billion securities, up more than 50 per cent compared to the beginning of the year. In the first six months of 2024, the trading value of DNSE's underlying securities grew by 58 per cent over the same period last year.

Regarding derivative transactions, in 2024, DNSE carried out nearly 2.4 million derivative contracts and continuously set new records in terms of market share. Accordingly, DNSE ranked in the top five derivatives brokerage firms in terms of market share in the first quarter of 2024 (4.01 per cent), and is expected to continue to climb the rankings in the second quarter of 2024.

Given the many driving forces for development in the stock market in 2024, along with the unique, flexible strategies and prospects of the technology securities model, DSE shares are expected to bring growth opportunities and sustainable, long-term value for domestic and foreign investors.

vir



RELATED STOCK CODE (2)

NEWS SAME CATEGORY

DIC Corp to divest and dissolve loss-making units

After posting a record loss of VNĐ121.24 billion (US$4.7 million) in the first quarter, DIC Corporation approved a plan of divestment and dissolution of...

Deoca Group (DCG) to raise charter capital to over $247m

Deoca Group announced a plan to issue over 210 million shares, equivalent to 50 per cent of the total issued, to existing shareholders to increase its capital to...

Gov’t to allow Vietnam Airlines (HVN) to delay US$160-million debt payment

Without the deferral, Vietnam Airlines could face insolvency in July 2024.

PV Trans raises charter capital to over $139.8 million

The Hồ Chí Minh Stock Exchange (HoSE) has announced its approval for the PetroVietnam Transportation Corporation (PV Trans) to increase its charter capital.

​Vietnam’s retail giant Masan (MSN) denies rumor of S.Korea’s SK Group divestment

Masan Group, a leading enterprise in the consumer retail industry in Vietnam, has rejected a rumor that South Korea’s SK Group has divested its nine-percent stake...

Phát Đạt (PDR) to divest all stakes from BIDICI

Phát Đạt Real Estate Development Corporation has recently approved a plan to divest all of its stake in BIDICI Real Estate Investment JSC.

SABECO (SAB) named in Fortune’s first Southeast Asia 500 rankings

Through efforts to become the leading beverage group in Vietnam, SABECO has been named in Fortune’s Southeast Asia 500 rankings.

Vietnam Airlines (HVN) targets profitability in 2024

Vietnam Airlines said that it will maintain the strong recovery momentum that has been building since 2023, the national flag carrier said at its shareholders'...

KIDO Group (KDC) to focus on essential food business in 2024

KIDO Group Corporation, a food producer, is focusing on research and development activities to expand its essential food business, develop new products, and...

FPT recognised as the largest IT services company in Fortune’s Southeast Asia 500

Global IT service provider FPT Corporation has been featured in the inaugural Fortune’s Southeast Asia 500, as the seventh largest company in the SEA region’s...


MOST READ


Back To Top