Monday, August 20 2018

VietNamNews

Daiwa Securities raises stakes in SSI to over 20%

Update: May, 23/2018 - 11:00
After purchasing nearly 3.7 million shares, Daiwa Securities holds over 101.98 million SSI shares, equivalent to a 20.39 per cent stake in Saigon Securities Inc. — Photo bizlive.vn
Viet Nam News

HÀ NỘI — Daiwa Securities Group Inc has raised its stake in Saigon Securities Inc (SSI) to 20.39 per cent from 19.66 per cent through a purchase of 3.68 million SSI shares.

The number of purchased shares was equivalent to 31 per cent of its total registered 11.91 million shares. The transactions were carried out between April 19 and May 18. The Japanese company attributed the modest purchase to unsuitable prices.

SSI shares, which are traded on the HCM Stock Exchange, lost about 20 per cent in value during the purchase period, falling from VNĐ41,500 (US$1.82) per share to about VNĐ33,000 apiece.

After the deal, Daiwa Securities holds over 101.98 million SSI shares, equivalent to a 20.39 per cent stake in the Vietnamese company. Earlier, in March this year, Daiwa Securities also registered to buy over 22.8 million shares of SSI.

SSI is Việt Nam’s biggest securities company in terms of market value (nearly VNĐ16 trillion based on its share price on May 22) and charter capital (over VNĐ5 trillion by the end of 2017). — VNS

 

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