Mr. To Hai: Good time to resign as General Director of Vietcap

On the afternoon of November 7, Vietcap Securities Joint Stock Company (stock code: VCI) held an extraordinary general meeting of shareholders on private issuance and establishment of a subsidiary abroad.

Accordingly, the company plans to issue a maximum of 127.5 million shares at an offering price of no less than VND18,026/share. The implementation time is this year and the first quarter of next year.

Ông Tô Hải: Thời điểm tốt để thôi làm Tổng giám đốc Vietcap - 1 — Mr. To Hai - General Director of Vietcap (Photo: VCI).

The expected minimum amount of revenue is nearly 2,300 billion VND, the company plans to use 80% to supplement capital for margin lending activities, the remaining 20% to supplement proprietary trading activities.

Explaining the decision to increase capital at this time, the company's board of directors said that this year, the stock market has recorded many positive signals as trading liquidity has maintained a strong upward trend in recent times.

FTSE Russell's announcement to upgrade Vietnam from a frontier market to a secondary emerging market is an important turning point, opening up great opportunities for the market to attract more foreign investment capital in the coming period.

In that context, the Board of Directors realized that the company needed to soon increase its charter capital to strengthen financial resources to serve existing business activities, improve competitiveness, and at the same time consolidate the foundation for sustainable and long-term development.

Another important content is the establishment of a subsidiary company in Singapore named Vietcap Singapore, with an investment capital of about 29 million USD. This enterprise will conduct indirect investment abroad and provide securities trading services. Vietcap expects to complete the establishment procedures in 3 months and put the company into operation 3 months later.

Mr. Dinh Quang Hoan, Vice President of Vietcap, said that recently, the company has received many invitations for cooperation from international consulting organizations and customers in the fields of consulting, investment and overseas business.

However, to be able to directly participate in transactions and investments, Vietcap needs to have a legal entity abroad. The establishment of Vietcap Singapore is a necessary and urgent step, to serve business activities, and at the same time facilitate the provision of services to international customers.

Mr. To Hai: This is the right time to leave the executive role.

One of the issues that shareholders were concerned about at the meeting was that Mr. To Hai, the company's General Director, would step down from his position on November 18 after 18 years in the position. His successor will be Ms. Ton Minh Phuong. This decision to change senior personnel was announced just a week before the meeting.

Explaining the reason for his withdrawal, Mr. Hai said he had intended to retire 5 years ago and had not been directly in charge for the past 2 years. According to him, the current time is “appropriate for the transition”, and he affirmed that he will continue to hold the role of a member of the Board of Directors.

Sharing more, Mr. Hai said that leaving the executive position certainly made many people who had been with him for a long time feel regretful, but he himself "decided to leave, so he had to leave", wishing to leave his position at the right time to leave a "good legacy". He expressed his opinion: "Sometimes sitting in one place for too long is a problem, not a solution", and believed that the new leadership team would continue to maintain and successfully develop the company.

Source: https://dantri.com.vn/kinh-doanh/ong-to-hai-thoi-diem-tot-de-thoi-lam-tong-giam-doc-vietcap-20251107171551496.htm