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| Sài Gòn-Hà Nội Securities will issue bonds worth VNĐ600 billion this month. — Photo toplist.vn |
Viet Nam News
HÀ NỘI – Sài Gòn-Hà Nội Securities Joint Stock Co’s managing board has approved a plan to issue bonds worth VNĐ600 billion (US$26.3 million) to raise capital to finance its margin lending business.
The bonds, with face value of VNĐ1 billion each, have a two-year maturity period and no pledged collateral.
Interest rate for the first six months is fixed at 8 per cent per year and rates for the next six-month terms will be floated based on the average deposit interest rates of four banks -- BIDV, Vietcombank, Vietinbank and Agribank -- plus a margin of 1.5-2.5 per cent per year.
The issue will be offered in a private placement this month.
The brokerage firm is expected to collect VNĐ600 billion to supply capital for the company’s margin lending activity.
In the last quarter of 2016, Sài Gòn-Hà Nội Securities (sticker SHS) unexpectedly surpassed Saigon Securities Inc (SSI) to become the leading brokerage with the highest market share on the Hà Nội Stock Exchange.
The company’s share price has climbed over 67 per cent this year to VNĐ7,700 per share.
Last year, the company posted VNĐ86 billion net profit. – VNS
