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TPS to raise charter capital to VND5 trillion

The Saigon Times

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HCMC – Tien Phong Securities Joint Stock Company (TPS), formerly known as Phuong Dong Securities (ORS), plans to raise its charter capital from the current VND2 trillion to VND5 trillion through share issuance.

The plan would be adopted at the company’s regular shareholders meeting scheduled for March 11. The capital increase aims to enhance capital safety ratios and secure capital for TPS’s business and investment activities in the long term.

According to the plan, TPS will issue 300 million shares, including 200 million shares for current shareholders. The company also plans to mobilize VND3 trillion through issuing bonds.

The company posted VND1,346 billion in revenue and VND271 billion in after-tax profit in 2021, surging 245% and 162% year-on-year, respectively.

The company expects its revenue to grow 46% year-on-year to VND1,981 billion and after-tax profit to rise 85% to VND500 billion in 2022.

In related news, the VN-Index of the Hochiminh Stock Exchange fell 0.49%, or 7.37 points, to close at 1,503.47 points today, February 22.

Losing stocks outnumbered winning ones by 319 to 147. More than 908 million shares worth over VND28.2 trillion changed hands on the southern market, surging 47% in volume and 45% in value compared with the previous session.

On the Hanoi Stock Exchange, the HNX-Index lost 1.49%, or 6.56 points, to close at 434.43 points, with 68 winning stocks and 176 losing ones. More than 119.1 million shares worth some VND3.6 trillion were transacted on the northern market.

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