AsemconnectVietnam - Having just offered 68.4 million shares to existing shareholders, BaF Vietnam Agriculture JSC (code BAF - HOSE) wants to continue its plan to offer additional private shares to increase its charter capital.

On September 30, BaF Vietnam will finalize the list of shareholders to collect written opinions, the expected time for collecting opinions is October 2024.
In particular, BaF Vietnam plans to submit to shareholders a plan to issue private shares in 2024 and the detailed content has not been disclosed.
It is worth noting that BaF Vietnam, which was only listed on December 3, 2021, has continuously issued shares to increase its charter capital from VND780 billion to VND2,390.2 billion. In particular, on July 1, 2024, the Company completed the offering of shares to existing shareholders at a ratio of 1:0.476767, equivalent to offering more than 68.4 million shares at VND10,000/share to raise capital from shareholders.
On June 25, BaF Vietnam reported the results of registering to issue 7,176,000 shares under the Employee Stock Option Program (ESOP) in 2023 at VND 10,000/share. However, the Company only sold 2,488,000 shares and had 4,688,000 unsold shares.
Explaining the issuance of ESOP shares at a large discount compared to the market but not purchased by employees, the Board of Directors of BaF Vietnam said: "The remaining number of ESOP shares that have not been distributed is mainly due to the fact that workers at farms have given up their purchase rights because they have not had many opportunities to access information related to securities and the stock market, so they do not have the need to buy shares".
In terms of business activities, in the first half of 2024, BaF Vietnam recorded revenue of VND2,613.19 billion, an increase of 8.6% over the same period, and after-tax profit of VND154.61 billion, an increase of 11.09 times over the same period. In which, the gross profit margin improved from 6.5% to 10.9%.
In 2024, BaF Vietnam continues to plan ambitiously with revenue increasing by 6.6% to VND5,543.9 billion and profit after tax expected to increase by 893.2% to VND305.9 billion.
Thus, ending the first half of 2024 with profit after tax reaching VND154.61 billion, BaF Vietnam has completed 50.5% of the annual plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan