Saigon Technology and Telecommunications Corporation (Saigontel, Stock Code: SGT, HoSE: SGT) recently reported that the PVI Infrastructure Investment Fund (PIF), managed by PVI Fund Management Joint Stock Company, has become a major shareholder, holding more than 5% of the company’s shares.
On June 20, 2025, PIF successfully acquired 10 million SGT shares, increasing its ownership stake from 0% to 6.67% and becoming a major shareholder in Saigontel.
Based on the closing trading price of SGT shares on June 20, 2025, which was VND 17,600 per share, it is estimated that PIF invested approximately VND 176 billion to purchase the aforementioned number of shares.
In other news, Saigontel recently announced a decision by its Board of Directors to halt the implementation of the plan to sell treasury shares as per the Board’s Decision No. 06/2025/QD-HQT dated May 14, 2025.
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Accordingly, based on the actual situation and to ensure alignment with the company’s plans for capital structure-related activities, Saigontel agreed to temporarily suspend the sale of treasury shares at the present time. The sale of treasury shares will be considered for implementation at a more appropriate time to ensure compliance with current regulations and the company’s plans.
Previously, Saigontel had approved the sale of all 310 treasury shares to supplement the company’s operating capital, with the transaction expected to take place in the second quarter of 2025.
The offering price was to be determined based on the market price at the time of the transaction and was not expected to be lower than VND 10,000 per share, ensuring compliance with the regulations of the Vietnam Stock Exchange’s Listing and Trading Rules.
Regarding the company’s operations, on April 25, 2025, Saigontel successfully held its 2025 Annual General Meeting of Shareholders.
At the meeting, the company’s shareholders approved the 2025 business plan, with expected revenue of VND 3,000 billion and pre-tax profit of VND 400 billion, representing increases of 62% and 82%, respectively, compared to the results achieved in 2024.
Additionally, the General Meeting of Shareholders approved the cancellation of the private placement plan approved at the 2024 Annual General Meeting of Shareholders due to unfavorable market conditions in 2024. The company is considering more efficient and suitable capital-raising alternatives.
On the other hand, Saigontel approved a plan to offer more than 148 million shares to existing shareholders to increase its charter capital, with a ratio of 1:1, meaning that for every 1 share owned, shareholders will have the right to buy 1 new share.
With an offering price of VND 10,000 per share, the company expects to raise over VND 1,480 billion, which will be used to repay loans, improve the company’s financial autonomy, reduce financial pressure, expand its scale of operations, and invest in project enterprises.
The offering is expected to take place in 2025 or at a later time as decided by the General Meeting of Shareholders, after obtaining the certificate of approval for public offering of shares from the State Securities Commission.
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Saigontel has made a strategic decision to halt the offering of 310 treasury shares for the time being. The company will carefully consider the opportune moment to revisit this initiative.
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