HD Securities Joint Stock Company (HDBS) has announced plans to offer more than 365.3 million shares to existing shareholders. The offering ratio is 2:5, meaning for every 200 shares owned, a shareholder can purchase 500 new shares. Upon completion, the company's charter capital will increase from 1,461 billion VND to 5,115 billion VND.

With a share price of 20,000 VND, HDBS could raise over 7,300 billion VND from the new share issuance. Of this, 1,470 billion VND will be invested in HD Digital Assets Exchange Joint Stock Company, after the latter increases its capital to 10,000 billion VND.

Recently, several large securities companies like SSI, TCBS, and VPBankS have also announced plans to increase their capital. Nguyen Anh Duc, managing director of institutional brokerage and investment advisory at SBB Securities (SBBS), suggests one reason is the expansion into new business areas, such as cryptocurrency, as Vietnam pilots this market for five years.

Bitcoin symbolic coin. Photo: Bao Lam

According to Government Resolution 5, companies wishing to operate cryptocurrency exchanges must have a minimum capital of 10,000 billion VND, of which 35% must be held by at least two institutions: a bank, securities company, fund manager, insurer, or technology company. This required capital is three times that of a bank and 33 times that of an airline.

Prior to HDBS, several large securities companies have invested in cryptocurrency exchange operators. For example, SSI established SSI Digital, a company in the digital asset sector, while VPBankS, VIX, and TCBS have also invested in similar ventures.

HD Securities, formerly Phu Gia Securities, was established in 2006. HDBank currently holds nearly 30% of its capital. In the first half of this year, the company achieved a net profit of nearly 290 billion VND. Its main revenue streams are proprietary trading, lending, underwriting, and financial advisory.

Trong Hieu