Brokerage ups buyback volume to 3 mln shares

Saigon Securities Incorporation, the country’s largest brokerage, will increase its share buyback from one million to three million shares, according to a statement it posted on its website Tuesday.

The move was meant to restore calm among shareholders, who were unhappy as the share price plunged 30.2 percent this year, SSI added.

The HCMC-based brokerage is seeking the Ho Chi Minh Stock Exchange’s approval for the buyback.

The brokerage’s share, the most active by volume, edged down by VND500, or 0.84 percent, to close at VND59,000.

The exchange’s website has reported that ANZ Bank plans to raise its holding in the brokerage to 12.5 percent by buying 3,416,700 shares starting April 1.

Thanhnien

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