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Planning charter capital up to 1,010 billion dongs
Year 2011, Ho Chi Minh City Securities Corporation (HOSE: HCM) made targets as follows: Revenue at VND437 billion up to 20% of the same period 2010, profit before tax at VND297 billion and profit after tax at VND237 billion, increasing 30% of the same period 2010. Total owner’s equity was estimated VND1,850 billion and Return on Average Equity (ROAE) was at 13.1%, increasing 2.6% of the same period 2010 (reached 11.7%)
On April 08, 2011, HCM will submit the 2011 business project with the above items and a plan of issuing shares to raise its capital from VND600 billion to VND1,010 billion to the annual shareholders’ meeting for approval. In which:
+ Issuing shares with amount VND400 billion to the existing shareholders at ratio 03 current shares transferred to 01 new shares with VND10,000/share.
+ Issuing shares to key staff with amount VND10 billion at VND10,000/share
The share issues will be implemented in quarter 2/2011. Financial resource from the issues will be used for trading bonds (VND100 billion), proprietary trade (About VND150 billion), underwriting (VND150 billion)
Ho Chi Minh City Securities Corporation is going to suggest the 2010 dividend payment at 17% increasing 2% compared with the plan (15%) to the annual shareholders’ meeting for approval. The company will pay the second dividend at 7% in cash.
The first 02 months in 2011 include Tet Holidays and the market was not good. However, HCM also got 32 billion dongs of profit before tax and expected getting 50 billion dongs in quarter 1/2011.
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