Bao Minh Securities plans HCMC bourse listing after major capital hike

Bao Minh Securities JSC (UPCoM: BMS) is preparing to list its shares on the Ho Chi Minh Stock Exchange (HoSE) after completing a large private placement that significantly boosted its charter capital.

The company’s board of directors has approved the implementation of procedures to register the listing, according to a recently released resolution.

The plan to move the shares to the HoSE was first approved by shareholders at the company’s 2025 AGM and was reaffirmed at an extraordinary shareholders’ meeting held on January 10.

Management said the company has begun the necessary procedures following shareholder approval, with documentation preparation and coordination with relevant parties currently underway. Some steps remain in progress and will be reported at upcoming shareholder meetings.

Shares of Bao Minh Securities currently trade on the unlisted public companies market (UPCoM) at around VND13,200 ($0.5), largely unchanged over the past several months.

Late last year, the company raised its charter capital from VND789 billion to more than VND2.04 trillion ($77.55 million) through the private placement of 125 million shares to 11 investors.

Following the transaction, the group of investors collectively holds about 61.86% of the company. Most individual stakes remain below 5%, except for Truong Thi Thanh Truc, who owns 15%.

Alongside the capital increase, Bao Minh Securities appointed Luong Thi Cam Tu as chairwoman of the board, replacing Thieu Huu Chung. Chung stepped down as chairman and now serves as standing vice chairman, while Phan Tan Thu continues as CEO.

Luong Thi Cam Tu, born in 1980, has more than two decades of experience in Vietnam’s banking and financial sector. She previously held several senior positions, including director of Sacombank’s Khanh Hoa branch and regional director of the former Mekong Housing Bank in central Vietnam.

At the age of 35, she was appointed CEO of Nam A Bank in 2015, before stepping down in March 2018. She later joined the board of Eximbank in April 2018 and served as its chairwoman from February 2022 until June 2023, after which she became vice chairwoman before leaving the bank at the end of 2024.

With fresh capital and experienced leadership in place, Bao Minh Securities is expected to strengthen its growth prospects in the coming years.

In terms of business performance, the company reported revenue of VND529 billion ($20.12 million) last year, up 81% year-on-year, while net profit rose 30% to VND106 billion ($4.03 million).

The growth was mainly driven by proprietary trading activities, which generated gross profit of VND210 billion ($7.99 million), while brokerage contributed VND13.3 billion and financial advisory recorded a loss of VND2 billion ($76,070).