Ho Chi Minh City Securities Joint Stock Company (Code: HCM) has announced that it will hold an extraordinary general meeting of shareholders on December 4, 2024, in an online format. The record date for shareholders to attend is October 30, 2024. The meeting will focus on the plan to issue shares to existing shareholders to increase the charter capital.
Ho Chi Minh City Securities - HSC (Code: HCM) is providing 18,500 billion VND in margin trading loans and preparing to raise more capital despite having just offered shares for 1,780 billion VND (Photo: TL)
Notably, in April 2024, this securities company completed an offering of 178 million shares to existing shareholders. This issuance amounted to 77.94% of the total shares offered, with an issue price of VND 10,000 per share.
In total, Ho Chi Minh City Securities raised VND 1,780 billion and will use this money to supplement its margin trading lending activities and capital for its proprietary trading operations. After this issuance, HCM increased its charter capital from VND 5,266 billion to VND 7,048 billion.
Thus, despite having just completed a share issuance to increase its capital to VND 1,780 billion, HCM is preparing to raise capital again.
In terms of business performance, in the first half of 2024, HCM recorded operating revenue of VND 1,957 billion, a 1.5-fold increase compared to the same period last year. Operating expenses also increased from nearly VND 700 billion to over VND 1,000 billion. As a result, HCM generated VND 590 billion in after-tax profit, double that of the same period in 2023.
At the end of Q2/2024, HCM's total assets reached VND 27,756 billion. Of this amount, VND 18,542 billion was in margin trading loans and advances against securities sales.
Source: https://www.congluan.vn/mang-18500-ty-dong-cho-vay-margin-chung-khoan-tp-hcm-hcm-lai-tiep-tuc-tang-von-post316339.html
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