Steel Manufacturer Joins Stock Exchange on December 15th with Reference Price of 10,100 VND

The Hanoi Stock Exchange (HNX) has approved the listing of 24.5 million VLS shares of Viet Long Steel Production JSC on UPCoM starting December 15, with a reference price of VND 10,100 per share. This values the company at approximately VND 247.5 billion.

Established in 2019 with an initial charter capital of VND 42 billion, Viet Long Steel has since increased its capital four times to the current VND 245 billion.

Specializing in the production and distribution of black steel pipes, galvanized steel pipes, and hot-dip galvanized steel pipes, the company’s factory is located in Thanh Liêm Industrial Park (Ninh Binh). It boasts a design capacity of 72,000 tons of steel per year and 60,000 tons per year for the hot-dip galvanizing line, exclusively serving the domestic market.

Viet Long’s products are featured in numerous key national infrastructure projects, including Vin Co Loa, Nguyen Trai Bridge – Rao Bridge (Hai Phong), Hanoi Ring Road 4, Ho Chi Minh City Ring Road 3, Khanh Hoa – Buon Ma Thuot Expressway, Dong Dang – Tra Linh Expressway, the North-South Expressway, and My Thuan 2 Bridge.

In terms of financial performance, 2024 saw revenue exceed VND 600 billion, a nearly 88% increase year-on-year. However, net profit after tax was only VND 306 million, down over 90%. This decline is attributed to the company’s focus on expanding its scale and market development, leading to rapid cost increases and shrinking profit margins.

VLS anticipates improved results in the coming years as the factory stabilizes at optimal capacity, production revenue increases, and financial costs are tightly controlled.

The company reports that Vietnam’s steel market in the first nine months of 2025 maintained growth in both output and domestic demand, despite export challenges. In the first eight months, finished steel production surpassed 21 million tons, up 9% year-on-year, while domestic consumption reached over 20.7 million tons, a 8% increase. Key drivers include public investment and real estate recovery, though the industry still faces oversupply and global volatility.

Regarding ownership, Chairman Pham Van Giang is the largest shareholder with nearly 52% of the shares. Mr. Giang also serves as CEO of Composite Steel JSC, which holds 18.5% of VLS’s capital. His wife, Nguyen Thi Hang, a board member, owns 9.68%. Together, Mr. Giang’s affiliated group controls nearly 80% of Viet Long Steel’s charter capital.