Kafi Securities appoints new Chairman of the Board

Kafi Securities Joint Stock Company issued a resolution to consolidate senior management following its 2026 annual general meeting held on April 8. Shareholders approved the resignation of Mr. Le Quang Trung from the position of Chairman of the Board of Directors, based on his prior notice. The meeting also approved reducing the number of Board members for the 2023–2027 term from 6 to 5, consisting of Mr. Nguyen Viet Cuong, Mr. Tran Tuan Minh, Mr. Ha Hoang Dung, Mr. Trinh Thanh Can, and Mr. Diep The Anh.

Board reorganization and leadership appointment

On April 10, the Board convened and elected Mr. Nguyen Viet Cuong as Chairman of the Board. The company said he has more than 25 years of experience in finance, auditing, investment, and corporate governance. He previously served as an independent director at Vietnam International Bank (VIB) from 2019 to 2022.

2026 business plan and dividend policy

Shareholders approved Kafi’s 2026 business plan targeting total assets of VND 35,000 billion and pre-tax profit of VND 1,050 billion, representing a 129% increase versus 2025 results. If achieved, the company said it would be a record profit in its history.

Kafi will retain all 2025 profits and will not pay dividends in order to strengthen its financial capacity and provide capital for operations. For 2026, dividends are planned to be paid in cash or stock at a maximum rate of 12%.

Capital-raising approvals

Shareholders approved two capital-raising options proposed by the Board: a public share offering and an issuance of shares under an Employee Stock Option Plan (ESOP).

Public share offering

Kafi plans to offer 125 million shares to the public, equivalent to 16.67% of outstanding shares. The offering price will not be lower than the book value per the most recently disclosed quarterly financial statements. Proceeds will be allocated 70% to margin lending activities and 30% to proprietary trading.

The distribution method includes direct sale at the issuer and/or through distributors. Implementation is planned for 2026, after approval from the State Securities Commission, with the exact timing to be determined by the Board.

ESOP issuance

The company will issue 3.75 million ESOP shares, restricted from transfer for one year. The issue price is VND 10,000 per share, targeting approximately VND 37.5 billion to support margin lending operations.

Capital increase and listing plan

If both issuances are completed, Kafi’s charter capital will increase from VND 7,500 billion to VND 8,787 billion. All issued shares, including the public offering and ESOP shares, will be registered with the centralized depository at VSDC and targeted for listing on the Ho Chi Minh City Stock Exchange (HOSE). If listing conditions are not met after the issuance, Kafi will register for trading on the UPCoM system.