The Board of Directors of the Industrial Investment and Development Corporation (Becamex IDC, HoSE: BCM) has agreed to contribute additional capital to Becamex VSIP Power Joint Stock Company (BV Power).
Currently, BV Power has a charter capital of VND 100 billion, of which Becamex IDC holds a 49% stake. In August 2025, BV Power is expected to increase its capital to VND 500 billion, with Becamex IDC contributing an additional VND 196 billion to maintain its 49% ownership.
Previously, in July 2022, the Board of Directors of Becamex IDC approved the capital contribution to establish BV Power with a charter capital of VND 100 billion. However, it was not until March 2023 that BV Power was officially established, headquartered at Becamex Tower in Phu Loi Ward, Ho Chi Minh City.
The main business lines of BV Power include electricity transmission and distribution, solar power up to 110kV voltage, investment and development of the power grid, retail electricity sales, and management, operation, and repair of the power grid up to 110kV voltage.
According to Becamex IDC’s annual report, in its first year of establishment, BV Power recorded a revenue of VND 1.5 billion and a post-tax loss of VND 3.4 billion. In 2024, revenue increased to VND 4 billion, but the post-tax loss widened to VND 10.3 billion.
BV Power was officially established in March 2023, headquartered at Becamex Tower in Phu Loi Ward, Ho Chi Minh City.
In another development, Becamex IDC has finalized the list of shareholders to collect their opinions in writing for the second time regarding changing the company’s name, address, and charter corresponding to the new name and headquarters. This process is expected to take place in September 2025.
Previously, Becamex IDC had finalized the list of shareholders to collect their opinions in writing, with the deadline set for 5:00 PM on September 9. The company presented to its shareholders the plan to offer 150 million shares to the public through an auction at the Ho Chi Minh City Stock Exchange (HoSE).
The starting price will be decided by the Board of Directors and will not be lower than VND 50,000 per share. The offering is expected to take place in 2025 and/or 2026, subject to approval from the State Securities Commission.
With a minimum offering price of VND 50,000 per share, Becamex IDC expects to raise a minimum of VND 7,500 billion. The company plans to allocate VND 2,000 billion for infrastructure investment and business in the Cay Truong Industrial Park, VND 500 billion for the Bau Bang Expanded Industrial Park project, and VND 3,330 billion for capital contribution to existing companies (including VND 2,276 billion for Vietnam-Singapore Industrial Park Joint Venture Company). The remaining VND 1,670 billion will be used to repay principal and interest on loans or bonds that are due.
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