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In the upcoming offering, existing shareholders will be granted the right to purchase shares at a ratio of approximately 100:94.34, with an offering price of 10,000 VND per share. Any unsold shares will be distributed to domestic investors with strong financial capabilities and will be subject to a one-year transfer restriction.
The entire capital raised will be used to repay principal debts to major banks such as Agribank, Vietcombank, MB, VPBank, and LPBank, following the repayment schedule for contracts maturing in Q4/2025.
A Balancing Act for Financial Stability
The offering plan was approved shortly after BIG released its Q3/2025 standalone financial report, which presented a mixed picture.
BIG recorded net revenue of over 83 billion VND, a 5% increase compared to the same period last year, and a net profit of more than 1.4 billion VND, reversing a loss of over 3.6 billion VND in the previous year. In the first nine months, the company generated nearly 292 billion VND in net revenue, a 57% increase, and a net profit of nearly 3.6 billion VND, marking a successful turnaround after restructuring.
Despite positive figures, the Q3 report also showed a negative cash flow from operating activities of over 96 billion VND. However, BIG attributed this primarily to increased investment in working capital for its two core business segments rather than operational issues.
The first segment is agricultural exports managed by Big Expo, a subsidiary. The company has advanced funds to partners for purchasing coffee and agricultural products to support export plans to China. Following the establishment of the Big Expo representative office in Mengzi, Yunnan Province, the company has intensified its border trade procurement and logistics chain. These advances will be recovered in Q4/2025 upon completion of export contracts, replenishing the company’s cash flow.
The second segment is the rapid expansion of Big Hotel during 2024-2025, with new properties in Vung Tau, Can Tho, and other locations. Continuous investments in upgrades, renovations, and openings have significantly increased initial costs, temporarily reducing cash flow.
“The negative cash flow in Q2 and Q3 reflects our aggressive expansion cycle, aimed at achieving our 2025 goals,” said BIG Chairman Vo Phi Nhat Huy.
Big Hotel chain nationwide
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Additionally, the offering is seen as a strategic move to rebalance the balance sheet, alleviate capital pressure, reduce debt leverage, lower interest expenses, enhance liquidity, and strengthen financial health, thereby stabilizing market confidence. This initiative is not just a short-term fix but a foundation for sustainable growth in 2026-2027.
Building a Robust Asset Foundation for Long-Term Vision
According to BIG, beyond the reported figures, the company boasts a diverse asset ecosystem and a multi-sector business model capable of generating steady cash flow in the medium to long term.
The Big Hotel chain, with over six properties in Hanoi, Ho Chi Minh City, Tay Ninh, Can Tho, Lao Cai, and Vung Tau—three of which are directly owned—provides consistent monthly revenue. The goal is to expand to 20-30 hotels nationwide by the end of 2026, establishing Big Hotel as a leading Vietnamese mass-market hotel brand, similar to India’s OYO model.
Big and its shareholders inaugurate Big Hotel Vung Tau
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Meanwhile, the agricultural import-export segment, Big Expo, is accelerating, particularly after establishing a branch in China, a market with over 1.4 billion consumers. This expansion increases foreign currency revenue, enhances supply chain value, and leverages the growing Vietnam-China agricultural trade.
“With the recovery of agricultural advances in Q4/2025, combined with stable hotel cash flow and reduced financial leverage post-share issuance, BIG will enter a cycle of positive cash flow and sustainable profitability,” stated BIG CEO Tran Thi Mua Thao.
– 09:46 17/10/2025
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