It has been decided that former German Deputy Prime Minister Philipp Rösler will become vice chair of HD証券's board of directors, as the company proceeds with its initial public offering (IPO). The appointment will apply to a term running from 2025 through 2030.
HD証券 announced that its board of directors had resolved to appoint Philipp Rösler as vice chair of the board. The resolution took effect on 23 October, and the appointment will apply to the remainder of the term running from 2025 through 2030.
The company plans to offer approximately 121.8 million shares in the fourth quarter and is preparing for an IPO targeting a listing on HoSE.
The offered shares will represent approximately 11.11% of total shares, with the offering expected to be conducted at a minimum price of VND12,252 per share. If the shares are sold, proceeds are expected to reach at least approximately VND1.492 trillion.
The funds are expected to be allocated 60% to margin trading, 30% to securities investment and 10% to advance payments for securities sales.
Born in 1973, Mr Rösler is a Vietnamese-German national and served as Germany's deputy prime minister. He subsequently worked with organisations including the World Economic Forum and is currently involved in management and consulting for companies connected with Vietnam.
HD証券 is currently a subsidiary of Ho Chi Minh City Development Joint Stock Commercial Bank, which directly holds 90% of its shares.