Finhay investment startup of 9X CEO Nghiem Xuan Huy completed the acquisition of a securities company

Share on personal Facebook, CEO Nghiem Xuan Huy of Finhay said that after 5 years of operation, this startup has officially acquired and taken over Vina Securities JSC (Vina Securities). This CEO born in 1991 said that Finhay became the first fintech company in the investment field to own a securities company.

Finhay’s main activity is to develop a financial management platform for individual investors with small investments from only VND 50,000. During the fundraising process, Finhay received investment from Thien Viet Securities (TVS) and Mr. Nguyen Hoang Giang, Chairman of DNSE Securities.

According to the latest business registration change information updated on May 6, 2022, Finhay has a charter capital of 133.5 billion VND, of which two foreign investors hold 47.4% of the capital, including Finhay Pty Ltd. Australia-based company owns 44.1% and Valence Private Investments owns 3.3%.

The actual takeover of Vina Securities has been carried out since the end of 2021 when Finhay Vietnam Service and Distribution Co., Ltd. has acquired 95.6% of capital from Korean investors. The remaining capital is owned by Mr. Nghiem Xuan Huy and Ms. Vu Thanh Van.

The position of Chairman of the Board of Directors and legal representative is also held by Mr. Huy.

In 2020 and 2021, Vina Securities lost VND 69.3 billion and VND 29 billion, respectively. The accumulated loss by the end of 2021 is more than 263 billion dong on the charter capital of 273.6 billion dong. In January 2022, Vina Securities completed the issuance of an additional 8.5 million shares to Finhay Vietnam Services and Distribution Co., Ltd. to increase its charter capital to VND358.59 billion.

Along with that, at the 2022 Annual General Meeting of Shareholders (AGM 2022) held on February 23, the new group of shareholders at Vina Securities approved the business plan for 2022 with the revenue target of reaching 86.94 billion VND; profit after tax at 60 billion dong.

According to Truong An

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