BAF Vietnam Agricultural Joint Stock Company (BAF-HOSE) has just announced the release of a document seeking shareholder approval.
Specifically, BAF Vietnam has proposed to the General Meeting of Shareholders the issuance of 65 million private placement shares at a price of VND 15,500/share for professional securities investors (with no limit on the number of shares).
The proceeds of VND 1,007.5 billion will be used to purchase VND 557.5 billion worth of feed, additives, and raw materials to serve the pig farms, and VND 450 billion to purchase piglets/weaned pigs/breeding pigs. The disbursement period is from Q4/2024 to Q4/2025.
Currently, BAF has 239 million outstanding shares, and after this issuance, the number of shares will increase to over 304 million. 
On October 8, BAF closed at VND 22,200/share, 43% higher than the issuance price.
According to BAF, the company currently has a herd of 11,000 grandparent and great-grandparent sows and over 38,000 parent sows, equivalent to 1 million piglets and commercial pigs. The farm system has 36 modern pig breeding and pig farming farms that are operational and spread across the country.
BAF aims to reach a target of 1.5 million commercial pigs sold to the market in 2025 and 10 million in 2030. The company also plans to have a herd of 400,000 sows by 2030, aiming to be in the top 3 leading animal husbandry enterprises in Vietnam.
Previously, on September 16, 2024, BAF Vietnam entered into a strategic cooperation with Muyuan Livestock and Food Group (Muyuan Foods Co., Ltd. – China) to receive the transfer of intelligent farming equipment technology and the application of artificial intelligence in the operating processes throughout the farming chain to ensure biosecurity and environmental friendliness.
“The cooperation between BAF and Muyuan marks the beginning of a different journey in the future. We hope to not only stop at the transfer of cage technology, biosecurity, and environmental solutions but also to continue to expand our cooperation in many other fields to promote the modern and innovative development of the livestock industry,” said Mr. Truong Sy Ba, Chairman of the Board of Directors of BAF.
According to the announcement, one of the most important technologies that Muyuan will transfer to BAF in the future is the multi-story cage technology and new cage technology, which will enable BAF to achieve its target of 10 million commercial pigs by 2030.
According to the semi-annual financial report for 2024, BAF Vietnam recorded revenue of VND 2,613.19 billion, up 8.6% over the same period (VND 2,406.43 billion), and after-tax profit of VND 154.61 billion, up 11.09 times over the same period (VND 11.57 billion).
In 2024, BaF Vietnam continues to have ambitious plans, with a projected revenue increase of 6.6% to VND 5,543.9 billion and an expected after-tax profit increase of 893.2% to VND 305.9 billion.
Thus, with a half-year after-tax profit of VND 154.61 billion, BaF Vietnam has achieved 50.5% of its annual plan.
