Hoa Phat Group is set to issue over 580 million shares in an effort to increase its capital and expand its operations. The final list of shareholders eligible for additional shares has been released, with each shareholder receiving one new share for every 10 shares they own. This issuance is expected to increase Hoa Phat’s charter capital by nearly 6,000 billion VND, from 58,100 billion VND to close to 64,000 billion VND.
The additional shares will be sourced from a capital surplus of 3,200 billion VND and more undistributed after-tax profits of 2,600 billion VND. This issuance will make Hoa Phat the second-largest number of outstanding shares on the stock market, only behind VPBank with 7.9 billion shares. The Chairman of Hoa Phat emphasized the group’s commitment to balancing the interests of businesses and shareholders. He mentioned that if business results continue to be positive, the group plans to return to paying cash dividends starting in 2025.
Hoa Phat Group aims to achieve a revenue of 140,000 billion VND and a profit after tax of 10,000 billion VND this year, representing a 16% and 47% increase respectively compared to the previous year. In the next five years, the group’s focus will be on steel production with major investments in projects like the Hoa Phat Dung Quat 2 Iron and Steel Production Complex in Quang Ngai.
Currently, Hoa Phat is the leading enterprise in Vietnam’s construction steel market, producing 8.5 million tons of crude steel annually. The group continues to expand its operations and invest in new projects to maintain its position in the industry.
