On October 13, VIX Securities announced its Q3 business results with total revenue of 3.222 trillion VND, an increase of 482% compared to the same period last year. Its pre-tax profit reached 3.048 trillion VND, over 9 times that of Q3 last year, marking a historic high for VIX. The main driver of this growth was proprietary trading, with a profit of 2.751 trillion VND from financial assets accounting for 85% of total revenue. VIX has realized profits from its old portfolio and is now eyeing new opportunities, registering to buy 2 trillion VND of shares in the IPO of VPBankS Securities. Other organizations like Dragon Capital also participated, with a total of nearly 6 trillion VND sought after within a day of the sale. VPBankS offered 375 million shares at 33,900 VND each, expected to raise over 12.712 trillion VND, with a projected P/E valuation of 14.3 times. VPBankS aims to improve its market position for margin lending with a profit of 3.260 trillion VND in the last 9 months.
Leave a Reply