--- title: HD Securities Sets IPO Price at VND 38,900 Per Share description: HD Securities approved an IPO price of VND 38,900 per share to raise VND 4,737.5 billion, allocating 60% to margin lending and 10% to cash advances. url: https://ginity.vn/en/blog/hd-securities-sets-ipo-price-vnd-38900-per-share canonical: https://ginity.vn/en/blog/hd-securities-sets-ipo-price-vnd-38900-per-share markdown: https://ginity.vn/en/blog/hd-securities-sets-ipo-price-vnd-38900-per-share.md language: en datePublished: 2026-11-05T00:00:00+07:00 dateModified: 2026-11-05T00:00:00+07:00 author: name: Gini url: https://ginity.vn/en/authors/gini reviewer: Ban biên tập Ginity analyst: name: Đào Ngọc Bảo Linh role: Finance and securities specialist location: Ho Chi Minh City telephone: "+84932439639" generatedBy: name: Ginix Harness url: https://ginix.vn desk: id: equity name: Companies & sectors url: https://ginity.vn/en/topics/equity tickers: [] sources: [] publisher: Ginity attribution: 'Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content.' disclaimer: "Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources." usageTerms: https://ginity.vn/ai.txt --- # HD Securities Sets IPO Price at VND 38,900 Per Share > HD Securities approved an IPO price of VND 38,900 per share to raise VND 4,737.5 billion, allocating 60% to margin lending and 10% to cash advances. Gini · Companies & sectors · 2026-11-05 · https://ginity.vn/en/blog/hd-securities-sets-ipo-price-vnd-38900-per-share _Lead analyst: Đào Ngọc Bảo Linh · Finance and securities specialist · Ho Chi Minh City · 0932 439 639_ ## Key takeaways - HD Securities board approved an offering price of VND 38,900 per share for 121,785,476 shares under its Resolution dated 03/11/2026. - The public offering aims to generate VND 4,737.5 billion in gross proceeds, representing about 10% of post-issue charter capital. - Proceeds allocation earmarks 60% for margin lending at VND 2,842 billion, 10% for trade advances at VND 474 billion, and 15% each for government and corporate bonds at VND 711 billion. - In Q3 2026, the book value per share of HD Securities stood at VND 12,811 compared with existing charter capital of VND 10,961 billion. - Subscription dates and final payment timelines for the 121,785,476 shares remain conditional on registration approval by the State Securities Commission. The Board of Directors of HD Securities Joint Stock Company has officially finalized its initial public offering (IPO) parameters. The approved corporate resolutions adjust the offering structure and define a concrete capital deployment schedule to finalize registration filings with state regulatory authorities. ## Board Resolution Approves Offering Price of VND 38,900 According to the official [disclosure by HD Securities](https://hdbs.vn/co-dong/hds-cong-bo-nghi-quyet-so-74-2026-nq-hdqt-va-75-2026-nq-hdqt-ngay-03-11-2026-cua-hoi-dong-quan-tri/) dated 03/11/2026, the company board passed Resolution 74/2026/NQ-HDQT and Resolution 75/2026/NQ-HDQT. These decisions ratify the submission dossier for the public offering registration to the State Securities Commission of Vietnam. According to data compiled by [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026, the offering price is set at VND 38,900 per share across 121,785,476 shares. This offering represents approximately 10% of post-issuance charter capital, compared with existing charter capital of VND 10,961 billion. Gross proceeds from the offering are projected to reach VND 4,737,455,016,400, or approximately VND 4,737.5 billion, according to figures reported by [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026. The offering price of VND 38,900 per share as of 03/11/2026 stands at roughly three times the firm book value of VND 12,811 per share recorded in Q3 2026. Market participants examining institutional capital structures can review [reading securities company financial statements](/en/blog/reading-securities-company-financial-statements) to understand balance sheet dynamics. ## Capital Deployment Plan for VND 4,737.5 Billion Under the capital utilization plan detailed in [Resolution 74/2026/NQ-HDQT signed on 03/11/2026](https://hdbs.vn/wp-content/uploads/2026/11/HDS_CV-312.2026_CBTT-NQ-HDQT-so-7475.2026-signed.pdf), total offering proceeds will be disbursed from Q4 2026 through the end of Q2 2027. The company divides the capital into three core operational pillars to support expanding brokerage capacity. The primary allocation directs 60% of proceeds, equivalent to roughly VND 2,842 billion, toward customer margin lending facilities according to details reported by [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026. This allocation strengthens balance sheet capacity to fund active trading volume and margin demand across equity markets. The secondary allocation assigns 10% of total capital, or approximately VND 474 billion, to advance payments on stock sales for retail clients as reported by [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026. The remaining 30%, totaling VND 1,421 billion, is divided equally with 15% for government bonds and 15% for corporate bonds, representing approximately VND 711 billion per asset class as reported by [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026. ## Planned Allocation of IPO Proceeds > Chart: Capital allocation of VND 4,737.5 billion from HD Securities public offering. %. Margin lending: 60; Trade advances: 10; Government bonds: 15; Corporate bonds: 15. The planned capital distribution authorized by the Board of Directors under Resolution 74/2026/NQ-HDQT is structured across designated business activities: | Capital Allocation Purpose | Share (%) | Estimated Value (VND billion) | Disbursement Schedule | | :--- | :--- | :--- | :--- | | Margin lending financing | 60% | 2,842 | Q4 2026 – Q2 2027 | | Cash advance for stock sales | 10% | 474 | Q4 2026 – Q2 2027 | | Government bond investments | 15% | 711 | Q4 2026 – Q2 2027 | | Corporate bond investments | 15% | 711 | Q4 2026 – Q2 2027 | | **Total** | **100%** | **4,738** | **Q4 2026 – Q2 2027** | *Source: [Resolution 74/2026/NQ-HDQT of HD Securities](https://hdbs.vn/wp-content/uploads/2026/11/HDS_CV-312.2026_CBTT-NQ-HDQT-so-7475.2026-signed.pdf) dated 03/11/2026.* Under [Resolution 74/2026/NQ-HDQT signed on 03/11/2026](https://hdbs.vn/wp-content/uploads/2026/11/HDS_CV-312.2026_CBTT-NQ-HDQT-so-7475.2026-signed.pdf), if actual offering proceeds fall below target, management will prioritize funds according to the stated percentage ratios. The company may also secure alternative financing via bank loans or corporate bond placements to fulfill operational plans. ## Charter Capital and Book Value in Q3 2026 Financial figures for the third quarter of 2026 highlight capital preparation ahead of the proposed transaction. According to reporting from [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026, current charter capital of HD Securities stands at VND 10,961 billion. At the end of Q3 2026, the book value per share of HD Securities reached VND 12,811 as recorded by [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026. The offering price of VND 38,900 per share as of 03/11/2026 stands at roughly three times the Q3 2026 book value of VND 12,811 per share. The public offering of 121,785,476 shares represents roughly 10% of post-issue charter capital according to [Tin nhanh chung khoan](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) on 04/11/2026. Sector trends across the broader securities landscape are discussed in [securities firms profits fell in Q3 2026](/en/blog/securities-firms-q3-2026-profit-drop-43-percent). ## Regulatory Approval Conditions and Next Milestones Public stock offerings by securities corporations are governed by domestic capital market laws. Under the [Law on Securities 54/2019/QH14](https://vanban.chinhphu.vn/?docid=198541&pageid=27160) dated 26/11/2019, joint-stock entities must satisfy paid-in capital criteria, profitable business operations, and formal shareholder assembly authorization. Registration documentation must also comply with government [Decree 155/2020/ND-CP](https://vanban.chinhphu.vn/?docid=202222&pageid=27160) dated 31/12/2020 regarding capital utilization plans and central trading commitments. Regulatory authorities examine all filed documentation before issuing a formal public offering registration certificate. In its official [announcement by HD Securities](https://hdbs.vn/co-dong/hds-cong-bo-nghi-quyet-so-74-2026-nq-hdqt-va-75-2026-nq-hdqt-ngay-03-11-2026-cua-hoi-dong-quan-tri/) on 03/11/2026, the company noted that specific subscription registration dates and payment deadlines are not yet finalized. These operational milestones will be announced publicly only after regulatory approval is granted by the State Securities Commission. The ultimate execution and capital success of the offering remain strictly subject to these regulatory approvals and market distribution conditions. ## Sources - HD Securities: [Announcement of Board Resolutions 74/2026/NQ-HDQT and 75/2026/NQ-HDQT](https://hdbs.vn/co-dong/hds-cong-bo-nghi-quyet-so-74-2026-nq-hdqt-va-75-2026-nq-hdqt-ngay-03-11-2026-cua-hoi-dong-quan-tri/) (03/11/2026). - HD Securities: [Board Resolutions 74/2026/NQ-HDQT and 75/2026/NQ-HDQT Official Document 312](https://hdbs.vn/wp-content/uploads/2026/11/HDS_CV-312.2026_CBTT-NQ-HDQT-so-7475.2026-signed.pdf) (03/11/2026). - Government Portal of Vietnam: [Decree 155/2020/ND-CP Guiding the Law on Securities](https://vanban.chinhphu.vn/?docid=202222&pageid=27160) (31/12/2020). - Government Portal of Vietnam: [Law on Securities 54/2019/QH14](https://vanban.chinhphu.vn/?docid=198541&pageid=27160) (26/11/2019). - Tin nhanh chung khoan: [HD Securities Sets IPO Price at VND 38,900 Per Share](https://www.tinnhanhchungkhoan.vn/chung-khoan-hd-chot-gia-ipo-38900-dongco-phieu-post400761.html) (04/11/2026). ## Frequently asked questions ### What is the IPO offering price for HD Securities? The board of directors of HD Securities fixed the initial public offering price at VND 38,900 per share in Resolution 74/2026/NQ-HDQT dated 03/11/2026. ### How will HD Securities deploy the VND 4,737.5 billion of IPO capital? The company plans to deploy 60% to margin financing, 10% to cash advances for stock sellers, 15% to government bonds, and 15% to corporate bonds from Q4 2026 through Q2 2027. ### What regulatory approval is required before shares are paid for? The public offering requires a formal registration certificate from the State Securities Commission under securities laws before subscription schedules open. --- _Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content._ _Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources._