Illustrative photo (Photo bizlive.vn) Hanoi (VNA) - Viet Capital SecuritiesCorporation (VCSC) may list on the stock market in the third quarter of 2017,HCM Securities Corporation (HSC) said in a recent report.
HSC said VCSC did not provide detailson pricing, but the valuation of the listing may be 4.6 trillion VND (200million USD), making VCSC one of the three largest listed brokerage firms, alongwith Sài Gòn Securities Inc (SSI) and HSC.
SSI has a current marketcapitalisation of 10.4 trillion VND, while HSC has a market capitalisation of 4 trillion VND.
“The main reason for the initialpublic offering (IPO) appears to be an attempt to make it easier for thecompany to raise new equity going forward,” HSC said.
Vietnam News contacted VCSC forcomment on the listing plan. The broker neither confirmed nor denied it, sayingthe plan is confidential and information will be published in the near future.
According to HSC, VCSC is thethird-largest securities company competing for leadership in the institutionaland investment banking segments though “its retail business lags well behindSSI and HSC.”
But the HCM City-based broker has “astrong perigree” in terms of services for institutional customers and importantinvestment banking deals.
In 2016, VCSC’s market share was8.86 percent compared to 13.7 percent for SSI and 12.45 percent for HSC.
VCSC was the advisor for the salesof the retail chain operator Big C and the placements of Vietjet Aviation JointStock Company.
VCSC is said to “be advising on anupcoming IPO by Vietnam National Oil and Gas Group’s PV Oil unit along withother planned listings, such as Sài Gòn Trading Group (Satra) and CIIEngineering and Construction JSC,” HSC said.
In 2016, VCSC had a net profit aftertax and minority interests of 335 billion VND, a year-on-year increase of 41 percentfrom 2015’s figure.
The figure was driven by a rise ofbrokerage revenues of 335 billion VND (a yearly rise of 6.5 percent), a netproprietary trading revenue of 266 billion VND (a yearly increase of 82 percent),and an advisory income of 83 billion VND (an annual jump of 92 percent).
However, the company’s totalearnings were offset by a lower margin lending revenue of 158 billion VND, whichfell 1.8 percent from 2015 to an ending margin balance of 1.39 trillion VND. —VNA
HSC said VCSC did not provide detailson pricing, but the valuation of the listing may be 4.6 trillion VND (200million USD), making VCSC one of the three largest listed brokerage firms, alongwith Sài Gòn Securities Inc (SSI) and HSC.
SSI has a current marketcapitalisation of 10.4 trillion VND, while HSC has a market capitalisation of 4 trillion VND.
“The main reason for the initialpublic offering (IPO) appears to be an attempt to make it easier for thecompany to raise new equity going forward,” HSC said.
Vietnam News contacted VCSC forcomment on the listing plan. The broker neither confirmed nor denied it, sayingthe plan is confidential and information will be published in the near future.
According to HSC, VCSC is thethird-largest securities company competing for leadership in the institutionaland investment banking segments though “its retail business lags well behindSSI and HSC.”
But the HCM City-based broker has “astrong perigree” in terms of services for institutional customers and importantinvestment banking deals.
In 2016, VCSC’s market share was8.86 percent compared to 13.7 percent for SSI and 12.45 percent for HSC.
VCSC was the advisor for the salesof the retail chain operator Big C and the placements of Vietjet Aviation JointStock Company.
VCSC is said to “be advising on anupcoming IPO by Vietnam National Oil and Gas Group’s PV Oil unit along withother planned listings, such as Sài Gòn Trading Group (Satra) and CIIEngineering and Construction JSC,” HSC said.
In 2016, VCSC had a net profit aftertax and minority interests of 335 billion VND, a year-on-year increase of 41 percentfrom 2015’s figure.
The figure was driven by a rise ofbrokerage revenues of 335 billion VND (a yearly rise of 6.5 percent), a netproprietary trading revenue of 266 billion VND (a yearly increase of 82 percent),and an advisory income of 83 billion VND (an annual jump of 92 percent).
However, the company’s totalearnings were offset by a lower margin lending revenue of 158 billion VND, whichfell 1.8 percent from 2015 to an ending margin balance of 1.39 trillion VND. —VNA
VNA
