Nam Kim Steel Joint Stock Company (stock code: NKG, HoSE) has approved an additional investment of over VND 620 billion to increase the charter capital of its subsidiary, Nam Kim Phu My Steel Sheet Company Limited.
The investment will be made in cash through multiple installments in 2025 and 2026. The purpose is to fund the Nam Kim Phu My Coated Steel Sheet Factory project and provide working capital for the operations of Nam Kim Phu My Steel Sheet Company Limited.
Following this investment, Nam Kim Phu My Steel Sheet Company Limited will have a charter capital of VND 2,700 billion.
Established in 2022, Nam Kim Phu My Steel Sheet Company Limited is dedicated to the Nam Kim Phu My Coated Steel Sheet Factory project. This flagship project by Nam Kim Steel has a total investment of VND 4,500 billion, with a capital structure of 30% equity (VND 1,350 billion) and 70% debt (VND 3,150 billion). The factory will feature a galvanizing line with a capacity of 350,000 tons/year, two aluminum-zinc alloy coating lines with capacities of 300,000 tons/year and 150,000 tons/year, respectively.
At the 2025 Annual General Meeting of Shareholders, Nam Kim Steel’s leadership announced that the Nam Kim Phu My Steel Sheet Factory is expected to commence operations in Q1/2026. Initially, it will take 2-3 quarters to reach 50-60% of its total capacity, with full capacity utilization anticipated by 2027.
Previously, Nam Kim Steel had increased the investment capital for the Nam Kim Phu My Coated Steel Sheet Factory project twice. Most recently, in July 2025, the total investment was raised by VND 400 billion to VND 6,200 billion, spanning two phases until 2027. This increase aims to fund additional production lines, technology, and the manufacturing of silicon steel for electric motors, automobiles, and transformers.
In other developments, Nam Kim Steel has adjusted certain aspects of its 2025 Employee Stock Ownership Plan (ESOP). The company plans to issue up to 4.5 million ESOP shares at VND 10,000 per share to 27 eligible employees.
Chairman Ho Minh Quang will receive the largest allocation with 600,000 shares, followed by CEO Vo Hoang Vu with 400,000 shares. Deputy General Directors will receive between 300,000 and 350,000 shares each.
The proceeds from this issuance will be used to supplement working capital for production and business activities. Upon completion, Nam Kim Steel’s total outstanding shares will increase to 452.07 million units, equivalent to a charter capital of VND 4,520 billion.
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