Vietnamese broker DNSE plans to join carbon credit market, build data center in HCMC

DNSE Securities JSC plans to join carbon credit exchanges, invest in digital asset businesses, and build an additional data center in Ho Chi Minh City to reduce trading latency, expand its technology ecosystem, and enhance competitiveness, revealed chairman Nguyen Hoang Giang.

Rather than directly building its own exchange, DNSE, listed on the Ho Chi Minh Stock Exchange (HoSE) as DSE, aims to act as an intermediary by acquiring around a 1% stake, valued at approximately VND10 billion ($379,644), in a digital asset company, he said at the firm’s 2026 AGM last Thursday.

Regarding asset management, Giang noted that as mergers and acquisitions in the sector remain costly, DNSE plans to establish a new fund management company, pending approval from the State Securities Commission.

Since 2020, DNSE’s account base has grown more than 4.5 times, with around 1,500 new accounts opened daily. Over the next three years, the company targets 5 million accounts, a 3% market share in equities, and 30% in derivatives trading.

By April 2026, DNSE expects to complete its integration with VNeID, enabling investors to authenticate directly without the need for a physical ID card. The company currently has more than 1.6 million verified accounts, with active users increasing by 15-20% every 90 days.

However, Giang emphasized that digital transformation in the securities industry has moved beyond eKYC adoption. From 2026 onward, competition will center on efficiency, personalization, and streamlined management, allowing firms to optimize operations and offer broader financial products to investors.

Positioning itself as a fintech company, DNSE is leveraging technology to support partners, as seen in its collaborations with ZaloPay and CIMB Bank, among others.

The company differentiates itself through products such as Margin Deal, the Ensa AI investment assistant, and subscription-based advisory services, he said, highlighting speed and simplicity as key strengths. DNSE has rapidly increased its derivatives market share to 25%, with daily order volumes reaching up to 600,000 - 10 times higher than in late 2025.

While its current share of the underlying equity market stands at around 2%, Giang said he expects significant growth once intraday (T+0) trading is introduced.

DNSE has also partnered with banks including CIMB and Sacombank, and plans to expand cooperation with VPBank’s Cake and MBBank, he added.

Financial plans and capital raising

At the AGM, shareholders approved 2026 revenue and pre-tax profit targets of nearly VND1.74 trillion ($66.04 million) and VND550 billion ($20.92 million), representing increases of 18.2% and 61.8% year-on-year, respectively.

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

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

Additionally, the company plans to issue 4.28 million ESOP (Employee Stock Ownership Plan) shares, which will be subject to a lock-up period of one to five years.

New board member from Capella Group

At the AGM, Dau Ha Lam, chief technology officer of Capella Group, was elected to DNSE’s board of directors for the 2025-2030 term, with a 99.78% approval rate.

A major shareholder holding a 9.8% stake in DNSE is also a founding shareholder of Encapital Fintech, currently the company’s largest shareholder. Giang confirmed that related Encapital entities continue to control nearly 51% of DNSE.

Regarding Capella’s involvement, Encapital Holding acquired Capella’s stake in Encapital Finance. Capella subsequently purchased a 9.8% stake in DNSE, becoming a direct shareholder.

Despite the addition of a new board member, DNSE affirmed that its long-term strategy remains unchanged.

In the stock market, DSE closed Friday at VND24,050 ($0.91) per share, up 3.66% from the previous session.