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Share HUT surged nearly 10% in the morning session on September 5th, with no sellers in the market.
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The price surge followed VII Holding JSC’s registration to purchase over 320 million shares, equivalent to 30% of Tasco’s charter capital, through a matching transaction. The trade is expected to take place from September 10th to October 9th, 2025. Based on the current price, these shares are valued at approximately VND 6.4 trillion. VII Holding stated that this is a long-term investment and pledged to hold the shares according to Tasco’s Board of Directors’ previous resolution.
VII Holding was established in May 2024 in Bac Ninh by Mr. Vu Dinh Do, Chairman of Tasco’s Board of Directors, who holds 65% of the capital and directly serves as Chairman and legal representative. After more than a year of operation, the company does not yet own any shares in Tasco.
At the 2024 Annual General Meeting of Shareholders, Mr. Do stated that VII Holding is oriented as an investment company, managing his capital and that of several other investors, including investments in Tasco. The meeting also approved allowing VII Holding to acquire shares from a group of shareholders who previously owned SVC Holdings (now Tasco Auto) without the need to conduct a public offering procedure.
| HUT market price has increased by more than 80% in the past four months |
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The context of this deal dates back to 2023 when Tasco issued nearly 544 million shares to acquire all the shares of SVC Holdings, the parent company of automobile distributor Dich Vu Tong Hop Sai Gon (Savico, HOSE: SVC), at a ratio of 1:1. After the swap, Tasco’s charter capital increased from VND 3,480 billion to VND 8,920 billion, and 21 new shareholders were added.
This group of shareholders held 544 million HUT shares, equivalent to 60.9% of the capital at that time, and had to comply with restrictions on transferring their shares for one year. In the following four years, the shares could only be sold within the group or to investors selected by Tasco’s Annual General Meeting of Shareholders. VII Holding is the unit approved by the 2024 meeting under this mechanism.
With the registration to purchase 30% of the capital, VII Holding is likely to become the largest shareholder and play a central role in Tasco’s ownership structure.
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Mr. Vu Dinh Do – Chairman of Tasco’s Board of Directors
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List of investors in the share swap in August 2023. Source: Tasco
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Tasco, formerly known as Nam Ha Bridge Team established in 1971, underwent several mergers and name changes to become the Nam Ha Transport Infrastructure Construction Company in 1992 before being equitized in 2000. This provided a boost to its capital, allowing it to undertake large-scale BOT and BT projects such as National Highway 10 in Nam Dinh, National Highway 1A in Quang Binh, and BOT Hai Phong…
From 2013 to 2018, Tasco expanded into real estate with the Foresa Xuan Phuong project and became one of the largest private infrastructure investors in the country. Starting in 2021, the Company underwent a comprehensive restructuring, focusing on three main pillars: transport infrastructure, real estate, and automobile services. Two years later, Tasco completed its core restructuring by successfully acquiring Tasco Auto, leading to revenue surpassing USD 1 billion.
* Tasco’s AGM: 21 individuals transfer HUT shares to a 2-day-old company of Chairman Vu Dinh Do
* Tasco stops contributing capital to VETC, focusing on Tasco Auto
– 14:22 05/09/2025
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As of the current HUT stock price of VND 18,200 per share, the expected amount that VII Holding would have to pay for over 320 million HUT shares is over VND 5,800 billion.
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