Vietcap Securities Joint Stock Company (HoSE: VCI) has just announced stock transactions of insiders and related persons of insiders.
Accordingly, Mr. Dinh Quang Hoan - Deputy General Director of Vietcap Securities has registered to sell more than 5.4 million VCI shares by negotiation or order matching from September 20 to October 19, 2023. The purpose of the transaction is to meet personal needs.
The transaction value calculated at the current market price is 48,200 VND/share (morning of September 15), Mr. Hoan is expected to earn 260 billion VND. After the transaction, Mr. Hoan only holds 100,134 VCI shares, reducing his ownership ratio from 1.26% to 0.02%.
Vietcap's leaders sold shares in the context of VCI's market price increasing quite well and forecasting that it will continue to increase steadily. Accordingly, from the bottom in early 2023, VCI shares have doubled. In the trading session on September 15, VCI shares were trading at around VND 48,100/share.
VCI stock performance over the past year (Source: Trading View).
In a related development, last July, Vietcap Securities signed a loan financing contract worth 45 million USD, equivalent to 1,062 billion VND. The loan was arranged by Shanghai Commercial and Savings Bank, Ltd. through its Offshore Banking branch with short-term interest rates based on the international currency market.
With this loan, Vietcap recorded another successful capital mobilization round after 4 previous capital mobilization rounds in October 2022, May 2022, November 2021 and May 2020.
In addition, the company has also just issued more than 2 million ESOP shares, at a rate of 0.5% in 2022, with an expected issuance price of VND 12,000/share. The total value of this ESOP share issuance is expected to be more than VND 20 billion.
The subjects of the share issuance are officers and employees whose names are on the list approved by the Board of Directors of VietCap Securities. The number of shares issued will be restricted from transfer for 1 year from the date of issuance. The expected implementation time is in the second quarter of 2023 or the third quarter of 2023, after being approved by the State Securities Commission.
Regarding the financial situation, according to the 2023 semi-annual audit report, Vietcap recorded a 46% decrease in operating revenue to VND 1,000 billion, and after-tax profit reached VND 190 billion, a corresponding decrease of 74% over the same period.
In 2023, VCI plans to achieve revenue of VND 3,246 billion and pre-tax profit of VND 1,000 billion. Compared to the results achieved in the first half of 2023, the company has completed 21% of the revenue target and 19% of the annual profit target.
As of the end of June 2023, the company's total assets reached VND 14,519 billion, a slight increase compared to the beginning of the year.
Of which, financial assets through profit/loss (FVTPL) accounted for VND555 billion, including VND170 billion of listed stocks and VND384 billion of unlisted stocks. AFS also increased sharply by more than VND1,000 billion compared to the beginning of the year to more than VND3,500 billion. The increase mainly came from the profits of stocks held with large proportions such as KDH, IDP, MSN, BCM.
Notably, the investment in International Dairy Products (IDP) is currently earning more than VND 2,200 billion in profit according to market value but has not been recorded in the company's business results.
In addition, Vietcap also allocates investment capital to other codes such as HPG, CTG, VNM, MWG, BCM, etc. with current original prices of up to tens of billions of VND per share. In addition to self-trading, the company's margin debt also increased slightly to VND 5,395 billion .
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