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HD Securities Joint Stock Company (HDS) held its 2026 annual general meeting of shareholders, approving measures aimed at expanding its development strategy, strengthening its financial capacity, and consolidating its senior leadership team.
At the meeting, HDS approved a plan to issue an initial public offering (IPO) of 164 million shares. After completing the issuances, the company’s charter capital is expected to reach over 12,600 billion VND.
Earlier, at the November 2025 AGM, HDS approved increasing charter capital from 1,461 billion VND to more than 10,960 billion VND. This plan was officially approved by the State Securities Commission in April 2026. HDS said it is working to complete the registration and offering procedures, expected to finish by May 2026.
HDS also closed the list of shareholders eligible to subscribe to the offering and receive stock dividends.
HDS plans to issue 876,855,426 shares at 10,000 VND per share, with a subscription ratio of 1:6 (a holder of one share may subscribe for six new shares). The subscription and transfer of subscription rights period is from April 28 to May 13, 2025. Payment for the new shares is scheduled for April 28 to May 20.
In parallel, HDS will pay stock dividends at a rate of 2:1.
HDS said the substantial increase in charter capital and the IPO are strategic steps to strengthen its financial base, enhance competitiveness, and expand the scale of operations—particularly in core areas including capital markets, investment banking services (IB), brokerage, and asset management.
The company also described the move as a precursor to accelerate digital transformation, develop WealthTech financial technology platforms, and work toward becoming a leading securities company in service quality and operating efficiency.
The AGM approved changes in senior leadership. Vu Huu Dien officially assumed the position of Chairman of the Board of HD Securities Joint Stock Company. Previously, on 10/4, he was appointed as Senior Advisor to Sovico Group.
Vu Huu Dien (born 1972) is described as an experienced financial–securities professional in Vietnam. Before joining HDS, he served as Chairman of the Board and CEO of VPBankS Securities, and previously worked for Dragon Capital, including roles such as Investment Director of VEIL (a Vietnam-focused fund with USD 2 billion NAV listed on the London Stock Exchange), Head of Deal Origination, and a member of the EXCO.
During his time at VPBankS, HDS said he led rapid growth, helping place VPBankS among the Top 5 Vietnamese brokerage firms, and led the VPBankS IPO and listing on HOSE, raising nearly USD 500 million in a short period.
HDS expects the chairmanship appointment to bring new momentum, particularly in strengthening governance, expanding relationships with institutional investors, and promoting capital market activities aligned with international standards.
With a strengthened financial base, a defined strategy, and an experienced leadership team, HDS said it aims to accelerate growth, expand market share, and position itself as an investment-focused financial institution operating on a technology platform with advanced risk governance.
Under the new Chairman, HDS set a long-term strategy to become one of the top five securities and investment banks in Vietnam by 2030. The strategy emphasizes an integrated investment banking model supported by a smart trading platform, data-driven operations, and AI-led leadership.
HDS said it will develop five coordinated business pillars: Investment Banking (DCM & ECM), proprietary trading, brokerage & margin, and asset management/distribution of investment products, to build a comprehensive financial ecosystem for both individual and institutional clients.
The company also plans to accelerate investment in technology platforms, aiming to become a leading AI-driven trading and asset management organization, including platforms such as HD Invest, to enhance customer experience and optimize operational efficiency.
HDS outlined targets including: being among market leaders in trading platforms and capital efficiency (ROE); top two in bond issuance market share; top three in advisory and distribution of investment products; and increasing capital scale and business efficiency to enter the Top 5 across the sector.
At the end of Q1 2026, HDS reported operating revenue of over 460.8 billion VND, up 88.58%. Financial revenue declined 12.09% to 0.97 billion VND. Operating costs rose by more than 30% to over 125 billion VND. Financial costs fell 64.41% to nearly 14 billion VND.
HDS also reported administrative expenses fell sharply by 354.16% from 11.77 billion VND to -29.926 billion VND. Net profit after tax rose nearly 261% to about 284 billion VND. The company attributed the profit increase to strong Q1 2026 revenue growth positively affecting its results.
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