Listed companies intensify equity fundraising efforts

Listed companies intensify equity fundraising efforts

This trend reflects a growing demand for funds to accelerate growth strategies, including mergers and acquisitions (M&A) and debt reduction.

Vietnam Airlines plans to issue 900 million shares to existing shareholders to raise VNĐ9 trillion. — VNA/VNS Photo

Việt Nam’s listed companies are intensifying capital mobilisation efforts through equity and debt instruments, reflecting a broader economic recovery and strategic financial restructuring.

Tân Cảng Offshore Services (TOS) has seen its stock price surge by nearly 180 per cent over the past year, reaching VNĐ143,700 per share (US$5.52).

The company's growth is attributed to robust financial performance and strategic acquisitions, including a 43.785 per cent stake in Tân Cảng Shipping for VNĐ219 billion and plans to increase its holding in YICO from 3.5 per cent to 51 per cent, thereby making it a subsidiary.

Bình Dương Trade and Development (TDC) recently completed a private placement of 35 million shares, successfully distributing over 27.2 million shares at VNĐ11,840 each, raising nearly VNĐ322 billion.

The proceeds will be used to repurchase a portion of its outstanding bonds, specifically the TDC.BOND.700.2020 series, as part of its debt restructuring efforts.

Becamex Infrastructure Development (IJC) plans to issue over 251.8 million shares at VNĐ10,000 per share, aiming to raise more than VNĐ2.5 trillion.

The funds will support investments in the Becamex - Bình Phước Industrial Park and the BOT project for upgrading National Highway 13 in Bình Dương Province.

Meanwhile, Becamex IDC (BCM) intends to issue 150 million shares through a public auction, with a starting price not lower than VNĐ50,000 per share. This adjusted plan follows a postponed larger issuance due to unfavourable market conditions earlier in 2025.

According to the CEO of Becamex, Phạm Ngọc Thuận, the company's charter capital of over VNĐ10.35 trillion poses challenges for raising additional funds, especially with regulations limiting borrowing to 15 per cent of total capital per project.

To implement key initiatives, Becamex must significantly increase its capital.

Thuận expects the actual sale price to exceed the initial offering, allowing the total capital raised to approach VNĐ20 trillion.

However, these efforts will only partially meet funding needs, as Becamex plans to undertake multiple projects from 2025 to 2030, targeting large-scale industrial and urban developments with potential investments in the hundreds of trillions of đồng.

The securities sector is also preparing for capital increases.

Việt Dragon Securities plans to raise its charter capital from VNĐ2.43 trillion to VNĐ3.2 trillion by issuing up to 77 million shares. The funds will support margin trading, prepayments, proprietary trading, underwriting and bond market participation.

The Vice Chairman of APG Securities, Huỳnh Minh Tuấn, noted that due to losses last year, APG was ineligible to offer shares to existing shareholders, necessitating a new capital-raising strategy.

The securities firm plans to issue private placement shares worth VNĐ1.2 trillion and bonds totalling up to VNĐ2 trillion, with significant funds allocated for margin lending.

Similarly, Vietnam Airlines plans to issue 900 million shares to existing shareholders at VNĐ10,000 per share, aiming to raise approximately VNĐ9 trillion.

The amount will be allocated by the company to settle supplier debts, repay loans and address part of its refinancing obligations.

The airline is also planning to raise capital in 2026, targeting up to VNĐ13 trillion to facilitate investments in new aircraft.

As part of its strategy for the 2030-2032 period, the company aims to acquire 50 narrow-body aircraft with fewer than 200 seats and 10 spare engines, with a total investment estimated at nearly $3.6 billion.

The chairman of the Board of Directors of Vietnam Airlines, Đặng Ngọc Hoà, said that global demand for commercial aircraft was rising sharply.

If orders for Boeing's narrow-body aircraft were placed now, deliveries might not occur until 2032.

Furthermore, from 2030 to 2045, the Vietnamese aviation sector was projected to require thousands of new aircraft to meet growing demand. 

Bizhub