SSI to issue shares, raising charter capital to $789.6m
The company plans to issue over 302.2 million bonus shares at a ratio of 100:20 and more than 151 million shares to existing shareholders at a price of VNĐ15,000 per share.
SSI Securities Corporation has recently obtained certification to offer 453 million shares, aiming to boost its charter capital from over VNĐ15.1 trillion to nearly VNĐ19.6 trillion (US$789.6 million).
The company plans to issue over 302.2 million bonus shares at a ratio of 100:20, meaning shareholders with 100 shares will receive an additional 20 shares and those bonus shares will be freely transferable.
The capital for the bonus shares will come from undistributed profits after tax, capital surplus, the development investment fund and other funds (if applicable), based on the company’s latest audited financial statements.
The securities firm will also offer more than 151 million shares to existing shareholders at a price of VNĐ15,000 per share. The subscription ratio is 100:10, allowing shareholders with 100 shares to purchase 10 new shares. These shares are also freely transferable.
The distribution will occur within 90 minutes from the effective date of the registration certificate for the offering (August 28).
According to the issuance plan detailed in the prospectus, if successful, SSI expects to raise nearly VNĐ5.3 trillion, which will be used to enhance capital for margin trading loans and to invest in bonds, certificates of deposit and other financial instruments, as determined by the board of directors.
SSI's second quarter consolidated financial report shows revenue of VNĐ2.3 trillion and a profit before tax of VNĐ1.06 trillion, up 37.3 per cent and 50 per cent from last year. This is the company's highest profit in ten quarters.
For the first half of the year, total revenues reached VNĐ4.28 trillion, with profit before tax over VNĐ2 trillion, marking increases of 35 per cent and 51.2 per cent respectively.
With 2024 targets of more than VNĐ8.1 trillion in revenue and nearly VNĐ3.4 trillion in profit before tax, SSI has completed 52.76 per cent and 58.92 per cent of its goals within the first six months of the year. — VNS
