600 bonds to be issued with a par value of $43,900 each and a term of two years.
The Saigon - Hanoi Securities Joint Stock Company (HNX stock code SHS) will issue a maximum of VND600 billion ($26.34 million) worth of corporate bonds in a private placement in the first quarter.
It will issue 600 bonds with a par value of VND1 billion ($43,900) each and a term of two years. The private placement will be conducted by the issuing agent, the Royal International Securities Joint Stock Company.
The purpose of the issuance is to supplement capital for stock margin lending.
In 2016, SHS recorded revenue of VND563.34 billion ($24.73 million), up 9 per cent against 2015 and 7.75 per cent higher than the annual target of VND522.81 billion ($22.95 million). After-tax profit was VND86.58 billion ($3.8 million), down 26.7 per cent and representing 85.9 per cent of the annual target of VND100.2 billion ($4.4 million).
In the fourth quarter of last year it overtook a number of major names such as SSI and HSC to reach first position in brokerage market share, with 10.6 per cent. For the year as a whole it ranked third, with 7.94 per cent.
SHS shares have improved sharply over the past week, increasing 2.8 per cent to VND7,300 ($0.32) per share on March 16.
It has been the preferred brokerage for a number of State-owned enterprise (SOE) equitizations. On October 22, 2015, it announced it would conduct the IPO of two subsidiaries of the Vietnam National Coal - Mineral Industries Holding Corporation (Vinacomin).