Hoa Phat charter capital highest on Vietnam stock exchange

By Thuy Tien June 24, 2021 | 01:57 am PT

Steel products seen at a factory of Hoa Phat Group in northern province of Hai Duong. Photo by VnExpress/Tran Nguyen.

Steel giant Hoa Phat is the enterprise with the largest charter capital on HoSE after the bourse approved its issuance of nearly 1.16 billion shares Monday.

The 1.16 billion shares were issued to pay dividend to its shareholders.

The issuance hiked its charter capital by nearly 35 percent to VND44.7 trillion($1.9 billion). The group’s charter capital has risen by 34 percent since its initial public offering on the Ho Chi Minh Stock Exchange (HoSE) at the end of 2007.

It is also the enterprise with the fourth largest market capitalization on HoSE at VND230 trillion and, the highest among steel enterprises.

Its HPG ticker is among the best performing stocks this year, having risen 68 percent so far.

For this year, the group targets selling five million tons of steel and steel billet.

It is also targeting a 33 percent year-on-year growth in both revenue and post-tax profit this year to VND120 trillion and VND18 trillion respectively.