Tien Phong Securities Corporation (TPS) has announced its plan to utilize approximately 3.6 trillion VND from a private share sale. Specifically, 60% of this amount (over 2.159 trillion VND) will be allocated for brokerage activities; 30% (nearly 1.08 trillion VND) for proprietary trading; and 10% (about 360 billion VND) for other investment activities. TPBank has been approved by the State Bank to acquire shares, making TPS a subsidiary of the bank with a 51% ownership stake. The share offering comprises 287.9 million shares priced at 12,500 VND each, aiming to raise 3.6 trillion VND. Post-offering, TPS’s shares will increase from 334 million to 623.93 million, raising its charter capital to 6.239 trillion VND.
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