FPT Telecom JSC and FPT Securities JSC, two companies under the umbrella of information technology company FPT Corp, both debuted shares on the securities market on January 13.

FPT Securities JSC will list its entire 90.3 million shares on the HCM Stock Exchange, with reference price of VND18,000 (US$0.80) per share. 

FPT Securities JSC will list its entire 90.3 million shares under code FTS on the HCM Stock Exchange, with reference price of VND18,000 (US$0.80) per share. At this price, its market capitalisation will reach VND1.62 trillion ($71.7 million).

Founded in 2007, the securities firm with charter capital of VND903.4 billion is often ranked among the 10 largest brokerage companies by market share on the two national stock exchanges.

Ending September 2016, the company reported total revenue of almost VND200 billion, up 7.7 per cent year-on-year, of which brokerage revenue reached VND65.8 billion. Its net profit in the first nine months touched VND111 billion, up 19 per cent year-on-year.

The two largest shareholders of the company are FPT Corp and SBI Financial Services, with each holding some 20 per cent of its capital.

With its presence, the number of listed securities companies on the two bourses has increased to 22.

FTS shares were trading down 20 per cent, the maximum drop allowed for a share on its first trading day, at VND14,400 per share.

FPT Telecom

Unlike FPT Securities, FPT Telecom has chosen the Unlisted Public Company Market (UPCoM), which is a subordinate market under the management of Ha Noi Stock Exchange, to debut its 137 million shares.

Under the code FOX, its reference price is set at VND54,000 (US$2.39) per share, equivalent to market capitalisation of VND7.4 trillion ($327.4 million).

Founded in 1997, FPT Telecom is one of the three largest internet suppliers in Viet Nam, with market share of 25.4 per cent in 2015, according to data of the Department of Information Technology under the Ministry of Information and Communications.

State Capital Investment Corporation (SCIC) and FPT Corp are the largest stakeholders here, with 50.16 per cent and 45.65 per cent, respectively. The move to debut shares on the stock market is said to be the first step for SCIC to divest investment.

The company reported net profit of VND662 billion in the nine months of 2016. It often pays high cash dividend of over 20 per cent per year.

The shares are trading at the maximum increase of 40 per cent on the UPCoM at VND75,600 a share. 

VNS