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Monday, July 22, 2024

VCSC wants to be renamed as Vietcap Securities

The Saigon Times

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HCMC – Viet Capital Securities Joint Stock Company (VCSC), whose VCI shares are traded on the Hochiminh Stock Exchange, wants to be renamed as Vietcap Securities JSC.

This is part of its plan to improve its brand recognition, as the firm now is called many different names, such as VCI, VCSC, and Viet Capital Securities, and is usually misidentified as other companies with similar names.

“This makes its brand recognition hard, so it is urgent to consolidate its name and brand identity,” VCSC said.

The name change plan will have to be approved by shareholders at an upcoming general meeting.

This year, VCSC expects its revenue to grow 2.8% against 2022 at nearly VND3,250 billion, and its pre-tax profit to contract 5.6% at VND1,000 billion.

It also announced it would issue two million shares under the employee share ownership plan with a price of VND12,000 per share.

At the close of the trading session today, March 9, VCI edged down 0.36% to VND28,000 and reported a matching volume of over 4.7 million shares.

With 271 advancers and 118 decliners, the benchmark VN-Index of the HOSE maintained its winning momentum for the fourth straight session. The main index ended 6.77 points higher than the previous session, or up 0.65%, at 1,055.95.

Trade on the HCMC exchange topped VND10.7 trillion with 609 million shares changing hands, increasing 19% in volume and 25% in value against the trading session yesterday. Over 51.3 million shares traded in block deals contributed over VND1.1 trillion to the overall value.

The trade volume of bank stock STB tripled over the session earlier and took the lead by liquidity, with a matching volume of over 42.5 million shares.

The Hanoi exchange saw 95 stocks rising and 64 others losing. The HNX-Index advanced 0.35 point over yesterday’s session at 209.03, with 55 million shares valued at VND844.8 billion traded.

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