Tycoon Xuan Thien appears at a securities company

Đại gia Xuân Thiện lộ diện ở một công ty chứng khoán - Ảnh 1. — Mr. Nguyen Van Thien - Chairman of Xuan Thien Group - Photo: Xuan Thien Group

Renamed to Xuan Thien Securities

Sen Vang Securities Joint Stock Company (GLS) has just announced the minutes and resolutions of the 2025 annual general meeting of shareholders.

The meeting was attended by 4 major shareholders, including Khang An Agricultural Trading Company Limited holding 20% of capital, and 3 other individuals: Ms. Thai Kieu Huong (15.13% of capital), Mr. Le Huy Dung (20.03%) and Mr. Ho Ngoc Bach (19.88%).

At this year's congress, GLS submitted to shareholders for approval to change its name to Xuan Thien Securities Joint Stock Company (abbreviated: XTSC).

Responding to shareholders' questions about why the name had to be changed, GLS's board of directors said that the company has the participation of a major shareholder, An Khang Company - a member of the ecosystem of Xuan Thien Group.

Accordingly, changing the company name is a way to take advantage of and inherit the brand value and internal strength of Xuan Thien Group - a large enterprise.

In addition to changing its name, GLS also submitted a plan to increase its charter capital to VND3,000 billion - a figure that the board of directors assessed as suitable for the current context, demonstrating the financial strength of major shareholders and being the first step for the company to enter the game strongly.

Not stopping there, GLS also aims to continue increasing its capital to VND20,000 billion, striving to be in the top 3 largest securities companies in the market. The company also revealed its IPO plan, listing on the stock exchange to increase its capitalization value.

GLS's 2025 business plan is quite ambitious in the context of the emergence of a major shareholder and comprehensive restructuring.

In 2024, the company only achieved revenue of VND 13.7 billion and after-tax profit of VND 351 million. However, this year, GLS set a revenue target of VND 179 billion, an increase of 1,205%, and after-tax profit of VND 70 billion, an increase of 19,839% compared to the previous year.

To implement this plan, GLS aims to make profits from proprietary trading reach about 20% of investment value. Brokerage revenue in the first phase is not expected to account for a large proportion, mainly coming from margin lending activities.

The company also revealed that it will step up recruitment of brokers, especially those with long-term customer files, corporate customers, VIPs... with a commitment to attractive salaries.

Chairman Xuan Thien will spend thousands of billions to buy stocks

Regarding the capital increase plan, GLS shareholders approved the plan to offer 135 million shares to existing shareholders at a ratio of 1:10 at a price of VND10,000/share, equivalent to each shareholder owning 1 share having the right to buy 10 new shares. If successful, the charter capital will increase to VND1,485 billion in the period of 2025 - 2026.

In addition, the company also plans to offer 165 million shares privately at the same price.

The list of strategic investors participating in the private placement includes Mr. Nguyen Van Thien - Chairman of Xuan Thien Group - who plans to buy 50 million shares, along with Mr. Nguyen Tan Dung (51.5 million shares) and Xuan Thien International Finance Joint Stock Company (50 million shares). The total value of shares distributed at par value by these 3 investors is VND1,515 billion.

Previously, the financial report for the first quarter of 2025 showed that Sen Vang's financial situation was not really positive. By the end of the first quarter of 2025, the company's total assets reached more than 69 billion VND, while accumulated losses remained at 68.6 billion VND.

At the end of 2024, GLS had only 22 employees, of which 8 had securities practice certificates. Since 2007, the company has not carried out any capital increase procedures.

In addition, the 2024 annual report said that major shareholders related to Xuan Thien Group only began to appear last year, after they increased their new purchases of shares of this securities company.

Who is tycoon Xuan Thien?

Xuan Thien Group was established in 2000 with the predecessor being Xuan Thien Ninh Binh Company Limited, then converted to a group model.

Recently, Xuan Thien Group started the Nam Dinh green steel project in Nghia Hung district. This complex has a capacity of 9.5 million tons of steel per year, a total capital of 98,000 billion VND, and an area of over 400 hectares.

Mr. Nguyen Van Thien - Chairman of Xuan Thien Group - is the brother of Mr. Nguyen Duc Thuy - Chairman of LPBank, once known as "Mr. Thuy". Mr. Thuy's ecosystem also has a securities company called LPBS (LPBank Securities).

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BINH KHANH

Source: https://tuoitre.vn/dai-gia-xuan-thien-lo-dien-o-mot-cong-ty-chung-khoan-20250701165058336.htm