At the extraordinary shareholders’ meeting scheduled for December 9th in Hanoi, Truong Thanh Energy and Real Estate Joint Stock Company (TECGROUP, HOSE: TEG) plans to propose a name change, adjust business activities, amend the company charter, and reallocate the proceeds from the 2023 public share offering. Additionally, the election of a new Board of Directors and Supervisory Board for the 2025-2030 term will take place.
The company finalized the list of eligible shareholders on November 10th.
 The Hoa Hoi Solar Power Plant in Phu Yen Province (pre-merger), with a capacity of 257 MWp and total investment of VND 6.6 trillion, was developed with TECGROUP as the investment and development consultant – Image: TECGROUP
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TECGROUP is a subsidiary of Truong Thanh Vietnam Group (TTVN Group). It serves as the primary investor for three solar power plants in Phu Yen, Quang Ngai, and Binh Dinh (formerly), as well as a wind power plant in Tra Vinh (formerly).
According to the recently released meeting documents, the company intends to change its name from “Truong Thanh Energy and Real Estate” (abbreviated: TECGROUP., JSC) to “Truong Thanh Energy Group” (abbreviated: TTEG). This shift underscores a strategic focus on the energy sector, particularly renewable energy and related auxiliary fields.
Company leadership stated that this adjustment aims to gradually phase out real estate investment and trading activities, concentrating resources on core operations. Shareholders will vote on the removal of real estate-related business activities from the company’s registered operations. The company charter will be amended as necessary to reflect these changes.
During the upcoming extraordinary meeting, a new 7-member Board of Directors and a 3-member Supervisory Board for the 2025-2030 term will be elected.
Regarding the reallocation of capital, management will propose a plan for the remaining funds from the 2023 capital raise.
In 2023, TECGROUP successfully issued 48 million shares to the public, raising VND 480 billion. Of this, approximately VND 57.3 billion was earmarked for working capital but was deposited in a bank savings account due to lack of immediate need. The 2024 Annual General Meeting approved the reallocation of these funds.
To date, a portion of the VND 57.3 billion has been utilized for working capital, leaving VND 45 billion unused. The company now seeks to reallocate this remaining amount to further bolster working capital and potentially invest in the energy sector.
– 11:28 18/11/2025
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