VNDirect sets liquidity record of nearly 106 million shares

In the context of the stock market having an adjustment level around 1,130 points, VND shares of VNDirect Securities Corporation suddenly had a sharp decrease with the matched volume at the end of the trading session on July 6 reaching 105,878,000 shares - the highest liquidity level since being listed on the stock exchange, surpassing the matched volume of 72.1 million shares achieved in the session on May 19, 2023.

Along with that, the transaction value reached approximately 2,000 billion VND, equivalent to 12% of the liquidity of the HoSE floor. During the trading session, VND shares at times dropped to the floor price of 17,950 VND/share with the matched volume at the floor price reaching nearly 13.2 million shares, with a buy surplus of more than 5 million units.

However, VND shares later increased slightly and continued to trade at a 6.5% discount to VND18,050/share.

Thus, after a session of extremely deep decline, VNDirect's market capitalization is only about 22,000 billion VND. Compared to half a month ago, the company's capitalization has lost more than 2,000 billion VND.

Finance - Banking - VNDirect sets liquidity record of nearly 106 million shares — Trading statistics of VND stocks.

At the General Meeting of Shareholders held on June 17, the company's Board of Directors approved four plans to issue additional shares, including private offering to professional securities investors (more than 243.5 million shares); issuing ESOP shares (more than 24.3 million shares); issuing bonus shares (nearly 12.1 million shares) and offering more than 234.5 million shares to existing shareholders.

If the above offerings and issuances are successfully implemented, VNDirect's charter capital will increase by one and a half times from nearly VND12,200 billion to more than VND18,000 billion, thereby becoming the securities company with the largest charter capital on the stock exchange.

In addition, the company's Board of Directors and the Executive Board agreed to set a business target for 2023 to increase brokerage market share to a higher level; the parent company's pre-tax profit is VND 2,000 billion, the parent company's after-tax profit is VND 1,600 billion, up 16% and 17% respectively compared to 2022.

Also at the Congress, Ms. Pham Minh Huong - General Director of VNDirect answered shareholders that the company agreed to guarantee the bond issuance for Trung Nam because it recognized that this was a potential enterprise.

However, after a series of events related to corporate bonds, as well as the Van Thinh Phat incident, or the incident related to electricity purchasing, these are systemic risks.

“Therefore, we assess Trung Nam's risk as only a temporary risk of liquidity, economic model, and policy, and this is also in VNDirect's plan to select an underwriting enterprise,” Ms. Huong said.

However, she said the company did not anticipate the resale by investors, adding that the capital department's handling was not good. Therefore, VNDirect was forced to buy back a huge amount of bonds at the time after the Van Thinh Phat incident occurred .

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