Viet Dragon Securities debuts on HOSE

July 19, 2017 | 17:41

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Viet Dragon Securities JSC listed 70 millions shares today on the Ho Chi Minh City Stock Exchange.

Representatives of Viet Dragon Securities and the Ho Chi Minh Stock Exchange celebrated the listing this morning

Under the ticker VDS, Viet Dragon Securities made its debut this morning on Vietnam’s largest bourse. The stock was priced at VND11,700 ($0.51), capitalising the securities firm at VND700 billion ($30.8 million).

Viet Dragon Securities was previously listed on the Hanoi Stock Exchange for seven years before deciding to transfer to the HOSE this March at its annual general shareholders’ meeting. The firm’s last trading day on the northern bourse was July 10.

The brokerage was established in 2006 with the chartered capital of VND100 billion ($4.3 million). Its founders are Eximbank, Saigon Trading Group (SATRA), Saigon A Chau Financial Investment JSC, and Viet Long Fund Management.

Headquartered in Ho Chi Minh City with offices in Hanoi, Can Tho, and Nha Trang, Viet Dragon currently employs 230 staff members to serve 68,000 investors.

At the end of the first quarter, the firm reported positive business results. Revenue hit VND166 billion ($7.3 million), which is half of the year’s target. Pre-tax profit more than doubled year-on-year, to reach VND71 billion ($3.1 million).

In the next years, Viet Dragon aims to focus on three pillars of growth: brokerage, proprietary trading, and investment banking. The firm's chartered capital is expected to double by 2020.