Antesco raises foreign ownership cap to 49% to attract international capital

Following its listing on the Ho Chi Minh Stock Exchange (HoSE), food processor An Giang Fruit-Vegetables & Foodstuff JSC (Antesco) is stepping up efforts to attract international investors through ESG initiatives and a higher foreign ownership limit.

Antesco (HoSE: ANT) said it had received feedback from the State Securities Commission of Vietnam (SSC) regarding an increase in its maximum foreign ownership ratio.

Previously, the SSC said it had received the company's application to raise its foreign ownership cap from 0% to 49%. The regulator requested Antesco to disclose information related to the change, while the Vietnam Securities Depository and Clearing Corporation would update the adjustment in its systems.

The move is expected to improve the company's ability to attract investment. At its 2026 annual general meeting, board member Le Hai Linh said the company had held discussions with more than 10 investment funds and over five major financial institutions since late last year.

With Vietnamese dong borrowing costs remaining at favourable levels over the past year, the board prioritized the use of lower-cost domestic financing while preparing ESG standards to engage with international partners in the coming year, he said.

"We have already received two investment proposals," Linh said. "We are carefully evaluating them because we are looking for strategic investors who can support governance, market expansion and customer development, rather than purely financial investors, as we pursue our goal of becoming one of Southeast Asia's three largest producers during 2026-2030."

The company plans to intensify engagement with investment funds in the second half of 2026 after completing its transfer of listing to HoSE and implementing dividend payments and an employee stock ownership plan (ESOP).

Since listing on HoSE, Antesco has accelerated efforts to align with international standards, including greenhouse gas inventories, carbon footprint measurement and greater transparency in corporate governance.

Management views ESG not only as a tool for accessing overseas customers but also as a core component of its 2026-2030 growth strategy, with a target of achieving net-zero emissions across its value chain by 2040.

In capital markets, ESG has increasingly become a prerequisite for accessing investment flows, as many international funds shift their focus toward companies with strong sustainability practices.

For example, approximately 66% of investment holdings managed by VinaCapital are allocated to companies with high ESG ratings, while Dragon Capital focuses on sustainable businesses. Meanwhile, Dynam Capital invests only in about 25 listed companies with the strongest commitments to ESG transparency.

On the Ho Chi Minh Stock Exchange (HoSE), ANT shares closed Monday at VND25,900 ($0.98) apiece.