Vietnam developer Taseco Land plans private share placement following HCMC bourse debut

Shortly after its listing on the Ho Chi Minh Stock Exchange (HoSE) as TAL, Taseco Land, a subsidiary of Vietnam’s conglomerate Taseco Group, is seeking shareholder approval for a private share placement targeted at professional investors.

According to the HoSE, Taseco Land will finalize the list of shareholders for collecting written opinions on August 19. The timing and venue of the vote have not yet been disclosed.

The proposed issuance had been previewed by chairman Pham Ngoc Thanh during the company’s 2025 AGM in April. At the time, Thanh stated: “Taseco Group currently holds nearly 73% of Taseco Land. Including leadership holdings, that figure rises to about 80%. Our intention is to reduce the group’s stake to 51%. We're actively seeking investors for a share issuance.”

Accordingly, Taseco Land plans to issue at least 10% of its charter capital to outside investors. The move is expected to bolster the company's equity base and support the execution of new real estate projects.

Thanh noted that the firm had already registered investments in numerous projects, getting very close to its current capital limits.

The chairman also revealed that both domestic and international investors had shown strong interest in the firm. Taseco Land is currently exploring strategic partnerships and international collaborations to diversify its real estate portfolio.

The company officially listed nearly 312 million shares on the HoSE on August 1. On its debut session, TAL hit the 20% daily limit, closing at VND30,600 ($1.17) per share. At Friday’s close, the ticker inched down 0.16% to VND30,650.

Analysts viewed its HoSE listing as a strategic milestone, signaling the company's commitment to transparency and corporate governance improvement. The successful listing also enhances investor confidence and opens doors to mid- and long-term institutional capital.

In the first half of 2025, Taseco Land reported VND933 billion ($35.58 million) in net revenue. Thanks to a significant improvement in gross margin from 24.3% to 33.7%, its post-tax profit surged to VND60 billion ($2.29 million), more than 3.5 times higher than that in the same period of 2024.

The strong financial performance reflects the company’s product restructuring, cost control efforts, and solid preparations for large-scale commercialization in the second half of the year.

The firm recorded VND1.68 trillion ($66.5 million) in net revenue in 2024, down 47.9% from the previous year, while financial revenue surged to VND825 billion ($32.6 million) from VND85 billion in 2023.