Hong River Garment Joint Stock Company (MSH) has announced that June 3rd is the last day to finalise the list of shareholders for issuing bonus shares to increase charter capital from internal sources.
Specifically, Hong River Garment plans to issue over 37.5 million bonus shares, equivalent to a 2:1 ratio (50%), meaning for every 2 shares held, 1 new share will be received. The source of funding for this issuance will come from undistributed post-tax profits as of December 31, 2024, according to the audited financial statements.
The additional shares issued will not be restricted from transfer, and the expected timeline for the implementation is within 2025, after the SSC confirms the complete dossier. Following the issuance, Hong River Garment’s charter capital will increase from over VND 750 billion to VND 1,125 billion.
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As of the end of 2024, Chairman Bui Duc Thinh was the largest shareholder in Hong River Garment, holding 179.34 million shares, or 23.91%. General Director Bui Viet Quang owned 85.12 million shares, or 11.35%. Board member Bui Thu Ha held 57.94 million shares, representing a 7.72% stake. FPT Securities Joint Stock Company owned 95.92 million shares, or 39.3%.
This capital increase plan was approved at the 2025 Annual General Meeting of Shareholders on April 26. The meeting also approved the 2025 business plan with a revenue target of VND 5,500 billion, up 4% from 2024. Expected pre-tax profit is VND 600 billion, an increase of 11% and the highest in history if achieved.
In the first quarter of 2025, the Company recorded revenue of VND 1,036 billion and pre-tax profit of VND 109 billion, up 34% and 75% respectively over the same period, achieving 19% of the year plan.
For 2025, Hong River Garment plans to maintain a cash dividend ratio of 30-45%, depending on business results. From 2018 to the present, MSH has consistently paid cash dividends at a rate of 25-45%, and in 2021, it also paid additional stock dividends at a ratio of 2:1.
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