Privately issuing 15 million shares at a price of 10,000 VND/share, HSV Vietnam Group Joint Stock Company (UPCoM: HSV) wants to put capital into the inland waterway transportation segment - a new field in the transformation strategy from 2025 of the Enterprise specializing in wholesale of scrap and industrial chemicals.
HSV has just approved a revised plan to issue 15 million individual shares at a price of 10,000 VND/share, implementation period from 2025 to the first quarter of 2026. Shares will be restricted from transfer for 1 year. If implemented successfully, HSV's charter capital will increase to 307.5 billion VND and the Company expects to receive 150 billion VND.
On UPCoM, HSV stock price stood still at 4,200 VND/share, 58% lower than the expected offering price of 10,000 VND/share. In 1 month, this code decreased 9% but still increased nearly 11% in 1 year. Average liquidity is nearly 116,000 shares/session. For many years, HSV has only traded around 3,000-5,000 VND, far below the peak of nearly 30,000 VND/share achieved in 2021 - the time of listing.
Mobilized cash flow mainly serves investment in watercraft
The issued capital will be allocated 67 billion VND to build 2 new inland waterway fleets, 45 billion VND to buy 2 used push boats and 8 barges, and 38 billion VND to repay bank debt. The total capital needs of the 3 items are nearly 175 billion VND, of which the remaining nearly 25 billion VND will be used from equity capital.
The entire additional portion from equity capital is for the goal of developing inland waterway transportation - a new industry added by the Company in 2025. Particularly, 38 billion VND to repay bank debt is used to restructure loans at Vietinbank, where the principal outstanding balance as of June 30, 2025 is more than 263.5 billion VND.
The purchase registration list has 9 investors. Among them, General Director and Board Member Nguyen Van Quan plans to buy the most with 3 million shares; Next are 2 individual investors - Ms. Le Thi Hang plans to buy 2 million shares and Mr. Nguyen Hong Tao plans to buy 1.75 million shares.
List of investors participating in the issuance, updated to Resolution of the Board of Directors dated November 4, 2025
In parallel with capital mobilization activities, on October 24, the Company approved the transaction to purchase investment real estate at building T18, Vinhomes Times City urban area (Mai Dong ward, Hanoi) with a total value of 18 billion VND.
Third quarter profit increased by 70%, strongly increasing deposits
HSV was established in 2013 under the name Hanoi Iron and Steel Joint Stock Company, specializing in wholesale of scrap and industrial chemicals. After many capital increases from the initial VND 10 billion, the Company now has a charter capital of more than VND 157 billion and is trading on UPCoM from 2021.
The turning point at the 2025 General Meeting of Shareholders is the addition of two new industries, including inland waterway freight transport and wholesale of fabrics, garments, and footwear. At the end of the third quarter, the Company recorded an investment in H2 Vietnam Transport Company Limited worth VND 40 billion, equivalent to 40% of charter capital, a unit in the same field of inland waterway transport.
In the third quarter of 2025, HSV's net profit was nearly 891 million VND, a slight decrease of 2% over the same period. Accumulated in the first 9 months of the year, the Company achieved nearly 4 billion VND in net profit, an increase of 70%. The results came from revenue of 1,136 billion VND, an increase of 68%, and financial income of more than 5 billion VND, double the same period.
Quarterly business results for the period 2020-2025 of HSV
https://finance.vietstock.vn/drawchart/finance?gui=6e09c755-5bf9-4434-999e-c891f3d1ce6c
At the end of September, bank deposits increased sharply to more than 144 billion VND, up 62% compared to the beginning of the year. Inventories are nearly 98 billion VND, an increase of 58%. Total loan balance increased to more than 362 billion VND, an increase of 58%, with 75% borrowed at Vietinbank Thang Long Branch.
Source according to FINANCE AND LIFE ELECTRONIC MAGAZINE (FILI.VN)