Mr. Nguyen Duy Hung: I do not trade in SSI . shares
The Chairman of SSI affirmed that he did not do business, buy or sell for profit from his own SSI shares, but the stock price is determined by the market.
This year’s annual meeting of SSI Securities Company (SSI), held on the afternoon of May 7, took place in an online form, but not so that the “heat” lessened.
The less active market makes investors worry about the impact on the business results of securities groups, stories of market share competition or stock price movements are topics of interest to shareholders.
Compared to the previous peak, the market price of SSI shares as of the latest trading session has decreased by approximately 50%. Being likened by investors as the “big brother” of the securities industry, the movements of SSI and the rest of the market became the subject of questioning. “Why is the business performance of the business still good, but the stock price has fallen deeply,” one shareholder said.
Responding to this issue, Chairman of the Board of Directors Nguyen Duy Hung, said that the stock price movement is “the most difficult thing” for him, but this is a matter to be determined by the market and investors’ expectations. private. The head of SSI affirmed that he and his family never bought or sold any SSI shares without announcing it, and did not participate in any activity of hitting up or down.
“I also like the stock price to go up. Because when the price goes up, there are many assets, but the stock price is determined by the market. What we can do is keep everything transparent, safe, take advantage of market opportunities. market for the company to develop well.SSI is not directly involved in buying or selling shares,” said Mr. Hung.
When asked about his plan to buy stocks when the market price has dropped deeply, he also affirmed, “This 18-20 years, I have not been in the business of buying and selling to make a profit from my own shares. SSI shares that he owns. has been around since its inception”.
Associated with the question of stock prices, shareholders also wonder about the market outlook. The concern came from the recent movements when the VN-Index continued to decrease and the market liquidity was also significantly lower than just a few months ago.
According to the head of SSI, the trading sessions at the end of 2021 and the beginning of 2022 are “dream sessions”. Because the market has recorded sessions with liquidity up to VND 30,000-40,000 billion, when it drops to VND 14,000-17,000 billion, investors feel a terrible change. However, if the market increases gradually from last year to now without a breakthrough, the level of 14,000-15,000 billion per session is still good growth.
“We can’t take the conditions of our dreams and apply them in real life,” said SSI’s chairman, adding that the current level of liquidity in the market is appropriate.
Sharing more with shareholders and investors about the market’s prospects, the Chairman of SSI said that he highly appreciates the opportunity when looking at long-term factors. “We rely on short-term fluctuations to invest in buying or selling, it will be easy to lose. But if we look at a longer macro story, we will see market opportunities from the ability to upgrade, the interest of domestic and foreign investors”.
In addition, the story of market share is also a matter of concern to shareholders at the meeting. The rise of VPS Securities Company has disturbed the stock brokerage market share ranking. SSI, once the company that held the leading position for more than a decade, has lost its “king” since the first quarter of 2021 and recorded a continuously decreasing market share.
According to the President of SSI, this change is due to different approaches and styles. Each securities company has its own strategy, approach, attraction and service to investors.
With the current conditions, Mr. Hung said the company does not need to adjust its business plan. This year, SSI has submitted and approved the plan to achieve 10,330 billion VND in consolidated revenue and 4,370 billion VND in pre-tax profit, both increasing by over 30% compared to 2021.
Regarding the capital increase plan, this year SSI presented a plan to offer up to 104 million individual shares to strategic investors or professional securities investors. The offering price is not lower than 90% of the average closing price of 10 consecutive trading days before the approval date of the issuance plan. After the issuance, the company’s charter capital is expected to reach nearly VND 16,000 billion.
In addition, SSI also added a report to continue implementing the plan to offer shares to existing shareholders. Previously, shareholders approved the plan to offer shares to existing shareholders at the ratio 2:1, at the price of 15,000 VND per share.
The Congress also elected to additionally elect Mr. Nguyen Quoc Cuong, former Deputy Minister of Foreign Affairs as an independent member of the Board of Directors, replacing Mr. Ngo Van Diem, whose term has expired.
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