SSI to buy back 1 million shares

Saigon Securities Incorporation, the country’s largest brokerage, is awaiting approval after informing the Ho Chi Minh Stock Exchange Monday that it plans to buy back one million shares at market price.

It will buy the shares at the closing price of the day it receives the approval.

The HCMC-based securities company has 137 million shares outstanding and a market capitalization of VND8.2 trillion (US$518 million), according Bloomberg.

The company also announced that a brother of its general director and managing director would raise his stakes in the firm to 1.5 percent through buying 100,000 shares by April 15.

SSI yesterday fell 4.7 percent to close at VND60,500, its all-time low. The stock has lost 63.9 percent in the year to date.

Thanhnien

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