Vietnam’s Binh Son Refining and Petrochemical Joint Stock Company (BSR), listed on the Ho Chi Minh Stock Exchange (HoSE), has recently released a document seeking shareholders’ approval for a capital increase plan in 2025.
Specifically, BSR proposes to issue over 1.9 billion new shares to pay dividends and reward shareholders, thereby increasing its charter capital. Of these, more than 930.1 million shares will be issued as dividend payments, entitling shareholders to receive 30 new shares for every 100 shares held.
The total value of the issuance, based on par value, is nearly VND 9,301.5 billion, funded by undistributed post-tax profits from the audited consolidated financial statements for 2024 (after allocating funds according to the profit distribution plan approved at the 2025 Annual General Meeting of Shareholders).
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In parallel, the company will issue nearly 976.7 million shares at a ratio of 31.5%, meaning shareholders will receive 31.5 new shares for every 100 shares held. The total value of this issuance is nearly VND 9,766.6 billion, sourced from the development investment fund in the audited financial statements of the parent company for 2024.
These issuance plans are expected to be carried out in the third and fourth quarters of 2025, following approval from the State Securities Commission of Vietnam (SSC) regarding the receipt of sufficient documentation related to the issuance of shares to increase capital from owned sources.
Upon completion of these issuances, BSR’s charter capital is expected to increase from nearly VND 31,005 billion to over VND 50,073 billion.
The capital increase is aimed at securing owner’s equity for the Expansion Project of the Dung Quat Refinery.
Additionally, in this round of shareholder approval, BSR also proposes to change its name from Binh Son Refining and Petrochemical Joint Stock Company to Vietnam Petrochemical Corporation. This proposal aligns with the company’s strategic vision for development until 2030 and its outlook until 2050, positioning BSR as a leading entity in the field of refining and petrochemicals.
The name change reflects the company’s ambition to elevate its brand positioning and is in line with the practices of other key players in the industry. It also facilitates international cooperation and provides a strategic advantage in the capital markets.
Shareholders of BSR, as of the record date of August 28, 2025, are entitled to vote on the above proposals and are requested to submit their votes by 2:00 PM on September 30, 2025.
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