Illustrative image (Source: vietnambiz.vn) HCMCity (VNA) - Dragon Capital, a Ho Chi Minh City-based fundmanagement company, has become a major shareholder in Vietnam’s three biggestsecurities firms.
According to the Ho Chi Minh Stock Exchange (HoSE), DragonCapital last week purchased nearly 113,000 shares of Saigon Securities (SSI),thereby increasing the total number of shares the fund holds at SSI to 25.05million shares, equivalent to a 5 percent stake in SSI.
SSI has loosened its foreign cap to 100 percent and foreignownership in this securities company currently reaches nearly 60 percent.
In the first nine months of 2018, SSI recorded consolidatedrevenue of more than 3 trillion VND (129 million USD), up 52 percent and equivalent to 89 percent of the annual plan, pre-taxprofit touched 1.4 trillion VND (60.2 million USD), up by 38.4 percent andreaching 84 percent of the annual plan.
In addition to SSI, Dragon Capital is also a majorshareholder of Viet Capital Securities Joint Stock Company (VCSC) with a nearly8 percent stake in the company.
The company is also the largest shareholder of Ho Chi MinhCity Securities Corporation (HSC), holding 30.27 percent of HSC shares.
SSI, HSC and VCSC are the three securities companies withthe largest market share in Vietnam. In the third quarter of 2018, SSI’sbrokerage market share reached 15.8 percent, HSC reached 11.5 percent and VCSCreached 8.9 percent.-VNA
According to the Ho Chi Minh Stock Exchange (HoSE), DragonCapital last week purchased nearly 113,000 shares of Saigon Securities (SSI),thereby increasing the total number of shares the fund holds at SSI to 25.05million shares, equivalent to a 5 percent stake in SSI.
SSI has loosened its foreign cap to 100 percent and foreignownership in this securities company currently reaches nearly 60 percent.
In the first nine months of 2018, SSI recorded consolidatedrevenue of more than 3 trillion VND (129 million USD), up 52 percent and equivalent to 89 percent of the annual plan, pre-taxprofit touched 1.4 trillion VND (60.2 million USD), up by 38.4 percent andreaching 84 percent of the annual plan.
In addition to SSI, Dragon Capital is also a majorshareholder of Viet Capital Securities Joint Stock Company (VCSC) with a nearly8 percent stake in the company.
The company is also the largest shareholder of Ho Chi MinhCity Securities Corporation (HSC), holding 30.27 percent of HSC shares.
SSI, HSC and VCSC are the three securities companies withthe largest market share in Vietnam. In the third quarter of 2018, SSI’sbrokerage market share reached 15.8 percent, HSC reached 11.5 percent and VCSCreached 8.9 percent.-VNA
VNA
