Capella Group acquires 9.8% stake in broker DNSE, becomes major shareholder

Capella Group has become a major shareholder in DNSE Securities JSC after completing the purchase of shares equivalent to a 9.8% stake in the technology-focused brokerage.

According to a disclosure dated March 16, 2026, Capella Group acquired 42.075 million shares of DNSE (DSE).

Among DNSE’s major shareholders, Encapital Financial Technology JSC currently holds 168.3 million DSE shares, equivalent to 39.3% of the company's charter capital.

Nguyen Hoang Giang, chairman of DNSE and CEO of Encapital, directly owns more than 2.7 million shares, or 0.79%. In addition, Encapital Holdings - where Giang serves as CEO - holds 41.25 million shares, equivalent to 9.6%.

Combined, Giang and related entities within the Encapital ecosystem control approximately 49.7% of DNSE.

Capella Group is a multi-sector corporation operating in real estate, logistics and financial services. Its entry as a major shareholder is expected to provide additional capital resources and ecosystem support to help DNSE expand its business and strengthen its position as a leading technology-driven brokerage.

The company also announced that Dau Ha Lam, currently chief technology officer at Capella Group, will stand for election to DNSE’s board of directors for the 2025-2030 term at the upcoming 2026 AGM.

Before joining Capella, Lam held senior roles in digital finance and transformation at banks including Techcombank, VIB, and MBBank.

The potential appointment of a senior executive from Capella’s ecosystem to DNSE’s board underscores the group’s intention to enhance transparency and oversight of the brokerage’s operations.

DNSE has posted strong growth in recent years after pivoting to a technology-driven brokerage model in 2020. In 2025, the company exceeded its targets, reporting revenue of nearly VND1.47 trillion ($55.81 million), up 77%, and pre-tax profit of VND340 billion ($12.93 million), up 50% year-on-year. Total assets as of December 31, 2025 reached VND15.14 trillion ($575.9 million), up 42% from a year earlier.

At its AGM scheduled for March 26, 2026, DNSE is set to present an ambitious business plan for 2026 alongside proposals to finalize board appointments and outline key strategic directions.

The company targets revenue of nearly VND1.74 trillion ($66.04 million) in 2026, up 18.2%, and pre-tax profit of VND550 billion ($20.92 million), up 61.8% from the previous year.

DNSE also plans to issue VND3.5 trillion ($133.15 million) worth of bonds, including VND2.5 trillion in non-convertible bonds without warrants and VND1 trillion in convertible bonds during 2026.

On profit distribution, after four consecutive years (2022-2025) of cash dividend advances, DNSE plans to maintain dividends in 2026 in cash and/or shares of up to 7% of charter capital, aiming to ensure a stable and balanced return policy for shareholders.