Habubank securities firm to change to joint stock company

The State Securities Commission (SSC) on June 23 said it has received dossiers from Hanoi Housing Development Commercial Joint Stock Bank (Habubank)’s Securities Ltd Co (HBBS) to offer shares to become a joint stock company.

Headquartered at No 2C Van Phuc, Ba Dinh district, Hanoi, HBBS (coded HBB) is a subsidiary of Habubank with 100 percent stake operating in fields such as securities brokerage, securities investment consultancy, securities self-trading and securities depository.

According to the equitisation plan approved by the shareholders’ meeting, HBBS will offer shares priced at the face value to the employees and its existing shareholders and still retain its chartered capital of 105 billion dong.

After becoming a joint stock company, Habubank will hold 11 percent stake, 49 percent held by the existing shareholders and 40 percent held by employees of Habubank and HBBS.

In 2010, the company gained 176 billion dong revenue and 114 billion dong of after tax profit, up 4 percent in revenue but down 14 percent in profit from 2010.

 

Category: Stocks