VietNamNet Bridge – A lot of securities companies have been put on sale. These include the ones with bad financial situation, offered to be given away.
3 securities change hands within one month
Three securities companies announced the changes with their big shareholders in May alone. VIT Securities, for example, changed all of its shareholders. VIT Group, which held 63.02 of stakes, Nguyen Thi My Hanh, 36.55 percent and Nguyen Tri Quang, 0.43 percent have all sold their shares.
The buyers are Japanese Arts Securities Co Ltd from Japan, which bought 19.9 percent of stakes, Vietnam Investment Partners which bought 75.1 percent and Pham Dinh Quy 5 percent.
As for the Hung Vuong Securities JSC, Nguyen Thi Lan Anh has sold all of her stakes, amounting to 14.94 percent of the company’s chartered capital to Tong Chin Hen, who, after the affair, now holds 2.28 million shares, or 45.51 percent of the chartered capital.
The third one is the Chau A (Asia) Securities Company. Its big shareholder, a limited company, has sold all of its 21.86 percent of chartered capital to Hoan Loc Viet Trade and Service Company.
The capital transfer movement has been seen over the last two years. However, the noteworthy thing is that most of the companies on sale are the small sized companies which are not listed in the top 20 of the companies with the big securities brokerage market share.
The current economic difficulties have forced the companies’ owners to sell a part or all of their stakes to gather their strength on the core business fields.
Securities companies become dirt cheap
Two years ago, a “clean” operating license of a securities company was valued at tens of billions of dong. The demand for the licenses is still very big now, because the watchdog agency does not intend to grant more operation licenses at this moment.
Especially, many big institutions attempt to use securities companies as a tool to embellish their finance reports, or intermediate institutions to solve the technical problems relating to the cash flow. Meanwhile, securities companies are still attractive in the eyes of foreign investors, who still can see great investment opportunities, despite the current gloomy stock market.
Nevertheless, investors would have to thoroughly consider the opportunities of buying the companies with too bad financial situation.
An investor revealed that he is considering buying one of such companies, provided that he can reach the agreements with the owners of the company on the debt settlement.
The investor said it’s not difficult to find an unprofitable securities company to buy nowadays. The economic downturn, plus the gloomy stock market have pushed a lot of companies against the wall.
“In the past, the owners of the companies just tried to maintain the companies and hoped to sell their operation licenses, while they did not expect to get back the contributed capital. However, the license is not so hot any longer, therefore, they accept to bargain the companies away to free themselves from financial duties,” he explained.
However, when buying the companies, the investors understand that they would have to accept high risks. The Chair of a securities company said he and some other shareholders bought the company in late 2011; while in 2013, the company received a complaint from a customer about a thing which happened in 2009. The dispute still has not been settled so far.
Though it’s not the fault of the new shareholders of the company, they still have to think of the solutions to the problem, because the securities company has to inherit the legal responsibility handed over by the previous owners.
TBKTVN