On January 6, 2026, the Ho Chi Minh City Stock Exchange (HoSE) officially announced the compulsory delisting of SVI shares. This decision was made after the State Securities Commission confirmed that Bien Hoa Packaging no longer met the shareholder structure requirements to maintain its public company status. According to Decree 155/2020/NĐ-CP, this provided the legal basis for HoSE to initiate the delisting process.
The departure from the stock market marks the next step in the company’s restructuring journey, which began when TCG Solutions Pte. Ltd (a member of Thailand’s SCG Group) acquired controlling interest in late 2020 for nearly VND 2.1 trillion.
Currently, the major shareholder’s ownership stands at 94.11%, leaving only 5.89% of shares in public circulation. This falls below the 10% minimum threshold mandated for public companies. Alongside the ownership shift, the company’s management has been transitioned to personnel from the parent group to align business strategies.
Financially, Bien Hoa Packaging has shown mixed performance since the ownership change. Revenue remained robust, ranging from VND 1.5 trillion to VND 1.88 trillion between 2022 and 2024. However, net profit has trended downward. In 2024, net profit was VND 76 billion, and for the first nine months of 2025, it stood at VND 26 billion. Management attributed this to fluctuating raw material costs and pricing pressures. Despite these challenges, the company maintains a strong financial foundation with nearly VND 550 billion in cash and deposits, while consistently paying cash dividends of 18-26% annually.
On the stock market, SVI shares closed at VND 36,500 per share on January 6, 2026, with low liquidity due to the concentrated shareholder structure.
The delisting and deregistration from VSDC will officially conclude the company’s 10-year presence on the stock market. Founded in 1968, Bien Hoa Packaging will transition to operating as a subsidiary under the Thai conglomerate after 58 years of development.
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