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HD Securities (HDS) will finalize the shareholder list on April 27 to allocate subscription rights for 876.85 million additional shares under a rights issue. The company also plans a separate in-kind dividend share issuance and is preparing for an initial public offering (IPO) process.
HDS will offer additional shares through a rights issue with a ratio of 1:6, meaning one existing share entitles the holder to subscribe for six new shares. Rights to subscribe are transferable once. Shareholders with restricted transfer rights will still receive subscription rights, while the new shares are freely transferable.
Registration and transfer of subscription rights will take place from April 28 to May 13, 2026. The payment window is scheduled for April 28 to May 20, 2026.
At an offering price of 10,000 dong per share, HDS expects to raise 8,768.5 billion dong. The specific use of proceeds will be detailed in the fundraising plan.
In parallel, HD Securities will issue more than 73 million shares as a dividend in kind. The dividend ratio is 2:1, meaning shareholders owning two shares will receive one additional share. The record date is April 27, 2026.
Dividend shares are not restricted from transfer. The dividend is funded from undistributed after-tax profits based on the audited 2024 financial statements, specifically more than 1,004 billion dong.
The two capital-raising options were approved by HD Securities’ shareholders in November 2025. The company is also expected to hold its 2026 annual general meeting on the morning of April 23, 2026.
In published documents, HDS plans to present a 2026 business plan with total revenue of 4,747 billion dong and pre-tax profit of 3,375 billion dong, representing 2.2x and 2.6x growth versus 2025 results.
For 2025, HD Securities reported total revenue of 2,121 billion dong and pre-tax profit of 1,313 billion dong, up 95%. The company proposed no dividend for 2025.
A key item in HDS’s agenda is its plan to undertake an IPO. The stated objectives include supporting mid- and long-term development, meeting capital increase needs to strengthen financial capacity, expanding business, and gradually listing the company’s shares on the stock market.
Under the IPO plan, HDS expects to offer 164.4 million shares. The offering price will not be below book value, with execution planned for Q2–Q4 2026.
If all three measures are completed, HD Securities’ charter capital is expected to rise to nearly 11,180 billion dong.
On personnel matters, HD Securities proposes appointing one additional member to the board of directors for the remainder of the 2025–2030 term.
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