Dragon Capital becomes shareholder in top three brokerages

Dragon Capital, a Ho Chi Minh City-based fund management company, has become a major shareholder in Vietnam’s three biggest securities firms.

dragon capital becomes shareholder in top three brokerages hinh 0

According to the Ho Chi Minh Stock Exchange (HoSE), Dragon Capital last week purchased nearly 113,000 shares of Saigon Securities (SSI), thereby increasing the total number of shares the fund holds at SSI to 25.05 million shares, equivalent to a 5% stake in SSI.

SSI has loosened its foreign cap to 100% and foreign ownership in this securities company currently reaches nearly 60%.

In the first nine months of 2018, SSI recorded consolidated revenue of more than VND3 trillion (US$129 million), up 52% and equivalent to 89% of the annual plan, pre-tax profit touched VND1.4 trillion (US$60.2 million), up by 38.4% and reaching 84% of the annual plan.

In addition to SSI, Dragon Capital is also a major shareholder of Viet Capital Securities Joint Stock Company (VCSC) with a nearly 8% stake in the company. 

The company is also the largest shareholder of Ho Chi Minh City Securities Corporation (HSC), holding 30.27% of HSC shares.

SSI, HSC and VCSC are the three securities companies with the largest market share in Vietnam. In the third quarter of 2018, SSI’s brokerage market share reached 15.8%, HSC reached 11.5% and VCSC reached 8.9%.


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