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VNS Securities signs deals in various areas
VNS Securities on October 25 signed six cooperation agreements with local and foreign partners operating in the petroleum, real estate, banking and electronics industries.
The domestic companies are PetroVietnam Power, Tay Nguyen Coffee Investment Import-Export, Viet Nam Electronics and Informatics, CAVICO-PHI Cement and the Military Bank.
The foreign partner is the US-based Bantry Bay Ventures-Asia, which specialises in real estate and financial investments.
The cooperation will help us develop human resources, improve technology as well as enhance our management capacity, thereby partly contributing to the development of the financial market and the country’s integration into the world market,” Dang Dinh Thang, VNS Securities board chairman, at October 25’s signing ceremony.
Under the agreements, VNS will advise the companies on corporate finance, equitisation, stock auctions and listing and shareholder ownership certificates. VNS will also cooperate with its partners in financial investment projects.
According to the agreement with Bantry Bay Ventures-Asia, the US partner will help VNS develop human resources and management in line with international standards.
Bantry Bay Ventures-Asia will also contribute capital to help VNS establish two companies fund management firm VNSCapital and real estate developer VNSLand.
The US Company will also buy directly into VNS and increase the latter’s charter capital.
“VNS will raise its charter capital to between 300 billion VND and 350 billion VND,” said Doan Ngoc Hoan, the brokerage’s general director.
The company currently has 161 billion VND in charter capital.
The brokerage operates on both the Ha Noi and HCM City stock exchanges, and has about 800 customers.
VNA
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