Viconship raises stake in Vietnam's largest container port operator HAH to nearly 24%

Viconship (HoSE: VSC), one of Vietnam’s leading seaport operators, and two of its subsidiaries have acquired a combined 14 million shares, or nearly 24% stake, in Hai An Transport and Stevedoring JSC (HoSE: HAH), the largest container fleet operator in the country.

Viconship said it bought eight million HAH shares between December 25 and December 26, increasing its direct holding to about 29.9 million shares, or 17.68% of Hai An’s charter capital, from roughly 12.95%.

Its wholly-owned subsidiary Green Logistics Center One Member Company Limited (GLC) bought two million shares on Decemeber 26, raising its stake to 2.43% from 1.25%.

In addition, VSC’s subsidiary Greenport, purchased four million HAH shares between December 26 and December 29, lifting its ownership to 3.87% from 1.5%.

Following the transactions, Viconship and related entities now owns more than 40.5 million shares in Hai An, or 23.99% stake.

Recently, Hai An announced plans to issue nearly 2.5 million shares under an employee stock ownership plan (ESOP) for board members, supervisors, and employees of the company and its subsidiaries.

The ESOP shares, equivalent to 1.48% of outstanding shares, will be subject to a three-year lock-up. Issued at VND10,000 ($0.38) per share, the offering is expected to raise nearly VND25 billion ($95.06 million), which will be used to boost working capital.

The company plans to complete the issuance in the first quarter of 2026, subject to approval from the State Securities Commission.

VSC and HAH shares were traded at VND20,150 ($0.77) and VND59,800 ($2.28) each, respectively, at 2 p.m. on Wednesday.