SSI Securities Board Approves VND 500B Capital Injection into SSI-NextGen Fund

Overview

SSI Securities Corporation (SSI) has announced a board resolution to contribute VND 500 billion to the SSI-NextGen technology investment fund, alongside a 10% cash dividend and a 5:1 bonus stock issuance. The capital injection, executed in 2026, will give SSI an 83.33% stake in the fund. The combined capital actions are expected to push SSI’s charter capital above VND 30 trillion, making it the largest among Vietnamese securities firms.

Key Facts

• SSI board approved a VND 500 billion capital contribution to SSI-NextGen fund, representing 83.33% of the fund’s VND 600 billion charter capital.
• The capital contribution will be made in 2026, with timing subject to notice from SSIAM.
• SSI will pay a 10% cash dividend for 2025, equivalent to VND 1,000 per share, with payment expected on September 14, 2026.
• The cash dividend payout totals over VND 2,500 billion based on approximately 2.5 billion outstanding shares.
• SSI will issue over 500.2 million bonus shares at a 5:1 ratio, funded by VND 3,309 billion from share premium and VND 1,693 billion from retained earnings.
• Post-issuance, SSI’s charter capital is expected to exceed VND 30 trillion, surpassing TCBS (VND 27,739 billion) as the largest securities firm by charter capital.
• In H1 2026, SSI reported revenue of VND 6,652 billion (+27% YoY) and pre-tax profit of VND 3,122 billion (+39% YoY), achieving 42% of revenue and 53% of profit targets.

What Happened

SSI’s board of directors, chaired by Mr. Nguyen Duy Hung, approved a resolution to contribute VND 500 billion to the SSI-NextGen fund, a technology-focused investment fund managed by SSI Fund Management Company (SSIAM). The fund has a charter capital of VND 600 billion, with SSI holding 83.33%. The contribution will be completed within 2026. The board also appointed Ms. Nguyen Thi Thanh Ha, SSI’s CFO, as the capital representative.

Separately, SSI announced a record date of August 18, 2026, for the 2025 cash dividend and bonus stock issuance, both approved at the April 2026 annual general meeting. The cash dividend of 10% (VND 1,000/share) will be paid on September 14, 2026. The bonus issuance at a 5:1 ratio will add over 500 million shares, increasing charter capital to over VND 30 trillion.

Market Context

SSI shares closed at VND 23,000 on July 28, 2026, on the HOSE. The securities sector has seen robust activity amid Vietnam’s market recovery, with SSI reporting strong H1 2026 earnings. The capital increase and dividend payout are likely to be viewed positively by shareholders, though the cash dividend represents a significant cash outflow. SSI’s charter capital expansion positions it as the largest securities firm by equity, potentially enhancing its competitive standing.

Strategic Significance

The VND 500 billion contribution to SSI-NextGen signals SSI’s strategic push into technology investments, diversifying beyond traditional brokerage and underwriting. The fund’s focus on new-generation technology aligns with Vietnam’s digital transformation trends. The bonus issuance and cash dividend demonstrate management’s confidence in earnings and commitment to shareholder returns, while the charter capital expansion strengthens SSI’s balance sheet for future growth and regulatory compliance.

What to Watch

• Completion timeline and initial investments of SSI-NextGen fund.
• Q3 2026 earnings report to assess margin trends and capital adequacy.
• Impact of the cash dividend on SSI’s liquidity and leverage ratios.
• Competitor responses, particularly TCBS, in terms of capital actions.
• Regulatory developments regarding securities firm capital requirements.