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|Viet Dragon Securities raises capital to improve services for both customers and investors|
The move helps the securities firm raise its equity capital to over VND1 trillion ($44.2 million). Nguyen Hieu, general director at Viet Dragon Securities, said that the corporation is taking measures to improve customer service to meet market demand. The firm will continue its efforts to train skilled human resources, raise capital to strengthen its financial capabilities, as well as increase investment in technology for improved performance and efficiency.
“The capital increase helps the firm to accelerate its business plan, which will contribute to business development in the coming time,” he added.
The firm reported positive business results in 2017 with VND366 billion ($16.1 million) of revenue. Pre-tax profit reached VND138 billion ($6.09 million), exceeding the year’s target by 38.34 per cent and up 125 per cent against 2016.
Revenue from proprietary trading accounted for 41.96 per cent, an increase of 32.48 per cent against 2016. Meanwhile, investment banking and brokerage made up 27.36 and 23.78 per cent of total revenue, up 98.36 and 77.45 per cent year-on-year, respectively.
In 2018, the firm aims to increase charter capital to VND1 trillion ($44.2 million) with stock dividend payment after the annual general meeting in April. Pre-tax profit hit VND180 billion ($7.9 million), an increase of 30 per cent year-on-year.