DNSE Securities to go public by end-June: exec
Hanoi-based DNSE Securities JSC will have its shares listed on the Ho Chi Minh Stock Exchange (HoSE) in June this year at the latest, a company executive has confirmed.
The bourse is reviewing the firm’s application, chief financial officer Nguyen Ha Ninh said at the firm’s AGM on Tuesday.
From left: CEO Pham Thi Thanh Hoa, chairman Nguyen Hoang Giang, and chief financial officer Nguyen Ha Ninh at DNSE Securities' 2024 AGM in Hanoi, April 16, 2024. Photo courtesy of DNSE.
DNSE will float its entire 330 million outstanding shares at a starting price of VND30,000 ($1.19) each, giving it a price tag of VND9.9 trillion ($391.5 million), according to the firm’s AGM documents.
Shareholders approved a plan to make transactions with three major stakeholders, namely Encapital Financial Technology, Encapital Holdings JSC, Finland’s Pyn Elite Fund and other parties including Enpay Payment JSC, Winvest Services and Investment Corporation, WiGroup JSC, and Ahaslides Vietnam Company Limited.
The brokerage house targets to earn an after-tax profit of between VND170 billion ($6.72 million) and VND445 billion this year. Revenues are projected at VND868-1,390 billion.
The firm earned an after-tax profit of VND229 billion ($9 million) on operating revenues of VND714.5 billion in 2023, up 194% and 58% year-on-year, respectively, according to its audited financial statements.
For Q1 this year, DNSE earned an after-tax profit of VND70 billion ($2.77 million), up 46.7% year-on-year, said CFO Ninh.
Shareholders approved a plan to spend VND165 billion ($6.52 million) on a cash dividend of VND500 a share. This is the second consecutive year the firm plans a cash dividend payout.
DNSE also plans to issue 9.3 million ESOP shares and VND1 trillion ($39.54 million) worth of 36-month bonds. The time frames were not specified.
The company has no plans to issue new shares to its existing shareholders for now as it counts with partners willing to provide finances and an equity of VND4,400 billion ($174 million), said chairman Nguyen Hoang Giang.
Regarding recent ransomware attacks on VNDirect Securities, one of the top brokers on the HoSE, Giang shared that the company had worked with its partners to enhance its cybersecurity, particular data protection.
“In case DNSE is under attacks, its systems can recover within four to eight hours,” Giang noted.
Regarding its readiness to connect with the HoSE’s new trading platform provided by the Korea Exchange (KRX), CEO Pham Thi Thanh Hoa said that DNSE had passed the rehearsals and was ready to go live.
- Related News
- Read More
Vietnam's property market strongly performs in 2024 on solid fundamentals: Knight Frank
Vietnam's real estate market made a strong performance in 2024 across the office, ready-built factories/warehouses, and apartment segments thanks to solid fundamentals, write Knight Frank analysts.
Real Estate - Tue, February 18, 2025 | 8:00 am GMT+7
Thailand, Australia boost ties in transport, logistics
Thailand and Australia are seeking to strengthen cooperation in transport infrastructure and carbon emission reduction in the logistics sector.
Southeast Asia - Mon, February 17, 2025 | 8:20 pm GMT+7
China surpasses US as biggest importer of Vietnamese shrimp
China imported $834 million worth of Vietnamese shrimp last year, surpassing the U.S. to become the largest buyer of this item from Vietnam, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Economy - Mon, February 17, 2025 | 7:51 pm GMT+7
Malaysia, S Korea resume FTA talks
Malaysia and South Korea are set to hold their seventh round of negotiations for a bilateral free trade agreement (FTA) as they look to expand their trade portfolio and strengthen cooperation, according to the latter's Ministry of Trade, Industry and Energy.
Southeast Asia - Mon, February 17, 2025 | 5:23 pm GMT+7
Indonesia to launch new sovereign wealth fund this month
Indonesia will launch a new sovereign wealth fund called Danantara this month, with an initial capital of around $20 billion.
Southeast Asia - Mon, February 17, 2025 | 5:19 pm GMT+7
Singapore's Billion Union builds $70 mln fabric factory in Vietnam
Hong Kong-invested Thanh Hoa Billion Union Textile kicked off the construction of a $70 million factory in Vietnam’s central province of Thanh Hoa on Monday.
Industries - Mon, February 17, 2025 | 5:04 pm GMT+7
Vietnam’s construction ministry plans real estate exchanges for improved transparency
The Vietnamese Ministry of Construction is advancing a plan to establish real estate exchanges, similar to the stock market, in a bid to enhance transparency and efficiency in property transactions.
Real Estate - Mon, February 17, 2025 | 4:57 pm GMT+7
Vietnam plans to increase electricity imports from China, Laos by 2030
The Vietnamese Ministry of Industry and Trade (MoIT) aims to raise electricity imports from China and Laos by 3,000 MW and 2,500 MW by 2030, over 5 times and nearly 1.6 times higher than those stated in the current Power Development Plan VIII (PDP VIII), respectively.
Energy - Mon, February 17, 2025 | 4:14 pm GMT+7
Vietnam urges Turkish contractor to speed up mega Long Thanh airport's terminal construction
Türkiye-based IC ICTAS, the lead contractor of the passenger terminal within the under-construction Long Thanh International Airport, should speed up the construction of the package, said Vietnamese Deputy Prime Minister Tran Hong Ha.
Infrastructure - Mon, February 17, 2025 | 3:27 pm GMT+7
Vietnam tech giant FPT to provide high-quality AI human resources
With the groundbreaking of an inter-level school on Sunday, FPT Corporation is completing its education system from elementary to university levels in the south-central province of Binh Dinh, to provide high-quality human resources, particularly in AI.
Companies - Mon, February 17, 2025 | 11:32 am GMT+7
Japan pneumatics firm SMC to start $330 mln Vietnam expansion from July
SMC Manufacturing Vietnam, under Japanese pneumatic instrument producer SMC, aims to start its $330 million expansion in Vietnam from July.
Industries - Mon, February 17, 2025 | 10:47 am GMT+7
Institutional breakthroughs to provide solid foundation for heightened business confidence: economists
At a meeting of the National Assembly's Economic Committee in early February, the government proposed the 2025 GDP growth be "8% or more", instead of 6.5-7% set last November. The Investor introduces opinions of some leading Vietnamese economists on this proposed target.
Economy - Mon, February 17, 2025 | 8:02 am GMT+7
Vietnam consumer credit enters new growth cycle
After the decrease in consumer capital demand, negative growth, and peaking bad debts in 2023, Vietnam’s consumer financial market is entering a new growth cycle, backed by positive signs from the macroeconomic environment.
Finance - Sun, February 16, 2025 | 3:19 pm GMT+7
Vietnam property investors seek new opportunities in provincial markets
Real estate investors in Vietnam, both individuals and organizations, are shifting their investments from city centers to suburban regions and neighboring provinces where land remains abundant and significant investments are being made in infrastructure, particularly in transportation.
Real Estate - Sun, February 16, 2025 | 2:00 pm GMT+7
Five Vietnam pilgrimage destinations perfect for spiritual seekers: Booking.com
Booking.com, the world's leading digital travel company, has suggested some destinations in Vietnam for those seeking spiritual enrichment and a chance for reflection and connection, including Ba Den mountain and Bai Dinh pagoda.
Travel - Sun, February 16, 2025 | 10:59 am GMT+7
Malaysia takes the lead in data center development
Malaysia is making efforts to align with the global trend towards digitalization, which is driving demand for data centers, cloud computing, blockchain, and artificial intelligence (AI).
Southeast Asia - Sun, February 16, 2025 | 10:57 am GMT+7
