A shareholder meeting of the Vietnam Investment Securities Company. (Source: cafef.vn) Hanoi (VNA) - Vietnam Investment Securities Company (IVS) will mergewith Japan Securities Incorporated (JSI) to boost the number of customers,financial capability and expand the operation to Japan.
After the merger, the capital of IVS will increase to 372 billion VND (16.53million USD), IVS said in its statement at the annual shareholder meeting heldon March 25.
The merger will make JSI a department at IVS, and it will focus on the Japanesemarket only.
Current shareholders of JSI will commit not to withdraw from it in the nextthree years after the merger is approved by the State Securities Commission.
However, the company did not clarify in its statement when the merger wouldtake place.
The merger was also approved by the shareholders of JSI at the firm’s annualshareholder meeting held on March 14.
Vietnamese shareholders hold 48.87 percent of JSI’s capital now, includingViglacera Investment and Import-Export JSC (10 percent).
Japanese shareholders hold the rest of the company’s capital, including theHong Kong-based Tanamark Investment Ltd (20 percent), Aizawa Securities Co Ltd(14.5 percent) and Japan Asia Securities Co Ltd (14.5 percent).
In 2016, IVS earned total revenue of 26 billion VND and a post-tax profit of 97.4million VND. The figures were 95 percent and only 5 percent of last year’stargeted earnings. IVS will not pay dividend for last year’s performance.
In the third quarter of 2016, IVS issued 17.9 million shares to increase itschartered capital from 161 billion VND to 340 billion VND.
For 2017, IVS has forecast Vietnam’s economic growth at 6.5 percent to 6.7 percentand inflation rate at 4 percent to 5 percent, allowing the Government to keepthe lending rates low and support the growth of the securities market.
According to the company, the Vietnamese economy will reach its short-term peakin three years.-VNA
After the merger, the capital of IVS will increase to 372 billion VND (16.53million USD), IVS said in its statement at the annual shareholder meeting heldon March 25.
The merger will make JSI a department at IVS, and it will focus on the Japanesemarket only.
Current shareholders of JSI will commit not to withdraw from it in the nextthree years after the merger is approved by the State Securities Commission.
However, the company did not clarify in its statement when the merger wouldtake place.
The merger was also approved by the shareholders of JSI at the firm’s annualshareholder meeting held on March 14.
Vietnamese shareholders hold 48.87 percent of JSI’s capital now, includingViglacera Investment and Import-Export JSC (10 percent).
Japanese shareholders hold the rest of the company’s capital, including theHong Kong-based Tanamark Investment Ltd (20 percent), Aizawa Securities Co Ltd(14.5 percent) and Japan Asia Securities Co Ltd (14.5 percent).
In 2016, IVS earned total revenue of 26 billion VND and a post-tax profit of 97.4million VND. The figures were 95 percent and only 5 percent of last year’stargeted earnings. IVS will not pay dividend for last year’s performance.
In the third quarter of 2016, IVS issued 17.9 million shares to increase itschartered capital from 161 billion VND to 340 billion VND.
For 2017, IVS has forecast Vietnam’s economic growth at 6.5 percent to 6.7 percentand inflation rate at 4 percent to 5 percent, allowing the Government to keepthe lending rates low and support the growth of the securities market.
According to the company, the Vietnamese economy will reach its short-term peakin three years.-VNA
VNA
