Dong Son Infrastructure Investment Joint Stock Company (stock code: DSH) has recently announced significant developments regarding its expanded ownership in a BOT project enterprise.
On December 24, 2025, DSH successfully acquired 16.38 million shares from Van Phu Real Estate Development Joint Stock Company in Hanoi – Bac Giang BOT Investment Joint Stock Company. Following this transaction, Dong Son’s total shareholding increased to 28.79 million units, representing 58% of the charter capital.
With this majority stake, as of December 24, 2025, Hanoi – Bac Giang BOT Investment Joint Stock Company officially became a subsidiary of Dong Son Infrastructure Investment Joint Stock Company.
The company stated that the transaction was executed in accordance with the resolution passed by the General Meeting of Shareholders on July 24, 2025.
Prior to the share transfer, the shareholder structure of Hanoi – Bac Giang BOT Investment Joint Stock Company was evenly distributed among major shareholders. Ocean Group and Vinaconex each held 21% of the charter capital.
Dong Son Infrastructure Investment Joint Stock Company (formerly 319 Investment and Trading Joint Stock Company) owned 12.41 million shares, equivalent to 25% of the capital, while Van Phu Invest Joint Stock Company was the largest shareholder with 16.38 million shares, accounting for 33% of the charter capital.
Previously, the Hanoi – Bac Giang BOT expressway was developed by a consortium of four investors: Van Phu Invest Joint Stock Company; Dong Son Infrastructure Investment Joint Stock Company; Vietnam Construction and Import-Export Corporation; and Ocean Group.
This project serves as a vital transportation artery connecting Hanoi with industrially and commercially thriving provinces such as Bac Ninh, Bac Giang, Hai Duong, Hai Phong, Quang Ninh, and Lang Son.
With a total investment of VND 4,154 billion, the project was completed and commenced operations in 2016. Over 90% of the contract value has been settled, with the remaining portion related to land clearance costs in Bac Ninh still under implementation.
The project features an average toll rate ranging from VND 40,000 to VND 200,000 per trip for four lanes, with a fully transparent and legally approved toll collection period extending until 2037.
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