Viac (No.1) Limited Partnership has recently reported a reduction in its ownership stake in Van Phu Real Estate Development JSC (stock code: VPI, listed on HoSE). On December 3, 2025, the fund traded 1.6 million VPI shares as part of its portfolio restructuring. This transaction decreased its holdings from 29.65 million shares (9.26% ownership) to 28.05 million shares (8.76% ownership).
Based in Singapore, Viac (No.1) Limited Partnership became a major shareholder of Van Phu in 2024.
Rendering of the Vlasta Thuy Nguyen project (Hai Phong)
In recent developments, Van Phu Real Estate announced it is no longer the parent company of Van Phu – B&C JSC.
Van Phu – B&C recently completed a capital increase from VND 6 billion to VND 1,866 billion by issuing 186 million shares. Following this, VPI’s ownership in Van Phu – B&C dropped to 0.225%.
Established in 2018 as Van Phu Homes JSC, the company initially had a charter capital of VND 6 billion. VPI held 70% of the shares, while individuals Nguyen Dieu Tu (20%), Nguyen Hoang Ha (5%), and Nguyen Viet Bach (5%) held the remainder. Nguyen Dieu Tu served as CEO.
The company’s registered business activities include real estate consulting, brokerage, and auction services. In November 2021, Van Phu Homes was renamed Van Phu – B&C.
In March 2023, To Nhu Thang was appointed Chairman of the Board and legal representative of Van Phu – B&C. Four months later, Vu Thanh Tuan (Deputy CEO of VPI) took over this position.
According to announcements, Van Phu – B&C completed the issuance of 186 million shares on November 18, 2025. VPI likely did not exercise its preemptive rights, maintaining its 420,000 shares but reducing its ownership to 0.225%.
In Q3 2025, Van Phu reported pre-tax and after-tax profits of VND 143 billion and VND 119 billion, up 16% and 8% year-on-year, respectively.
For the first nine months of 2025, the company achieved an after-tax profit of VND 262.9 billion, meeting over 75% of its full-year target.
As of September 30, inventory stood at VND 5,407 billion, an 83.5% increase from the beginning of the year. This rise is primarily due to increased investment in key projects, including Vlasta Thuy Nguyen (Hai Phong), TT39-40 Van Phu New Urban Area (Hanoi), a project in Phu Thuan Ward (former District 7, Ho Chi Minh City), and others.
Văn Phú Expands Development into Southern Market
The Southern real estate market, centered around the emerging Ho Chi Minh City, is witnessing a significant investment surge from leading property developers. This wave is marked by a series of large-scale projects poised to transform the urban landscape entirely. This trend aligns with a strategic vision focused on critical transportation and infrastructure hubs within the city, aiming to redefine traffic flow and commercial dynamics across the entire Southern Key Economic Region.
“VPI Leverages Chairman’s Stock to Raise $250 Million in Bond Offering?”
Real Estate Development Corporation, Van Phu (HOSE: VPI), successfully issued a VND 250 billion bond, with the code VPI12502. The bond has a term of 36 months and will mature on August 15, 2028, with a fixed interest rate of 10% per annum.
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“Revolutionizing Debt Management: VPI’s Strategic Move to Settle Bond Debt with a Twist”
“Van Phu – Invest Joint Stock Company is poised to issue 29.65 million shares to settle a VND 690 billion debt (excluding interest) in convertible bonds, with a conversion price set at approximately half of the current market price.”
Let me know if there are any other adjustments or refinements you would like to see!
Mr. To Nhu Thang Sells 3.3 Million VPI Shares
Mr. To Nhu Thang, Vice Chairman of Van Phu – Invest, offloaded 3.3 million VPI shares as registered from June 27 to July 4.
