HDS plans IPO to raise nearly 900 billion VND for margin lending

HD Securities Joint Stock Company (HDS) has approved a detailed plan for its initial public offering (IPO) and subsequent stock listing. The company intends to offer approximately 121.8 million shares, representing 11.11% of its pre-issuance outstanding shares. If successful, the company's charter capital will increase from nearly 10,961 billion VND to a maximum of approximately 12,178.5 billion VND.

The IPO is projected to take place in the fourth quarter of 2026, pending approval from the State Securities Commission. Based on the book value from the reviewed 2026 semi-annual financial report of 12,252 VND per share, the company expects to raise a minimum of approximately 1,492 billion VND.

HDS plans to allocate 60% of the proceeds, or about 895.27 billion VND, to supplement capital for margin lending activities. An additional 10% (149.21 billion VND) will be used for securities sale advances, while the remaining 30% (447.63 billion VND) is earmarked for investing in valuable papers. This capital injection is significant given that HDS's margin lending balance grew by approximately 101% in the second quarter of 2026 alone.