Becamex IDC Corp's Capital Raise Plans Face Setbacks
Becamex IDC Corp (BCM), a major industrial park developer, faced challenges in its capital raising plans. The company's initial proposal for a VND21 trillion ($794.85 million) public auction of 300 million shares was postponed due to market conditions. Later, a smaller-scale capital increase was rejected by shareholders.
Becamex IDC Corp, operating seven industrial parks covering 4,700 hectares and holding a 49% stake in the VSIP joint venture, sought to boost its capital. Initially, it planned to raise VND21 trillion through a public auction of 300 million shares, starting on April 28, 2025. However, the stock price fell below the offering price, leading to a postponement.
The company later proposed a smaller-scale capital increase of 150 million shares at a minimum price of VND50,000 ($1.89). This plan was also met with resistance, with only 2.85% of shareholders supporting it. As of Q2/2025, Becamex reported total assets of VND57.6 trillion ($2.18 billion) and equity of VND21,723 billion ($822.44 million). Despite these setbacks, Becamex aims to expand its industrial parks and develop integrated industrial-urban-service zones.
Becamex IDC Corp's capital raising plans faced obstacles, with both a large-scale public auction and a smaller-scale capital increase being rejected or postponed. Despite these challenges, the company continues to pursue its growth vision, aiming to expand its industrial parks and develop integrated industrial-urban-service zones. With total assets of VND57.6 trillion and equity of VND21,723 billion, Becamex remains a significant player in the industrial park development sector.
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