VCSC set pre-tax profit target of US$43.8 million in 2018
Viet Capital Securities (VCSC)`s pre-tax profit target in 2018 is set at VND1 trillion (US$43.8 million), up 26% year on year.
Notably, VCSC will propose to the shareholders of underwriting securities in an international offering, and apply for approval to make offshore indirect investment, stated in VCSC's document prepared for its annual general meeting in 2018.
VCSC set pre-tax profit target of US$43.8 million in 2018.
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"We are confident that 2018 is another year where VCSC will remain as number one in Investment Banking," stated VCSC representative in its statement.
VCSC is currently working on transactions with total deal size above VND40 trillion (US$1.75 billion) ranging from banking, consumer staples, seafood, construction materials and real estate.
In 2017, VCSC will pay dividends in cash at rate of 10%, and at 15% in 2018. The company's revenue is recorded at VND1.5 trillion (US$65.7 million), increasing 51% compared to 2016, while its pre-tax profit reached VND802 billion (US$35.1 million), up 46% year on year.
VCSC also remained in top 3 on the Hanoi Stock Exchange with 8.5% of the market share, down 0.36% in comparison to 2016.
VCSC also successfully advised on big transactions across a range of industries, including Vietjet with capital mobilization worth VND3.8 trillion (US$166.8 million), VPBank with VND12 trillion (US$526.8 million) and PNJ of VND1 trillion (US$43.8 million).
The company was also co-underwriter on the public offering of Viglacera, in which around VND2 trillion (US$87.8 million) was raised from investors; bookrunner on the VND500 billion (US$21.9 million) private placement of PCC1 with funds raised from institutional investors; adviser on initial public offering and listing of SEA on New York Stock Exchange with value around US$1 billion; advisor to two international institutions on deal of Traphaco, and to FPT on its divestment of FPT trading.
VCSC also advised on the equitization of leading stated owned enterprises such as PetroVietnam Power (PV Power), PVN Genco 3, PetroVietnam Oil (PV Oil) or IDICO.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years