Vietnam's leading developer Becamex IJC to raise over $98 mln for transport infrastructure projects
Becamex IJC, a major developer in Vietnam, plans to offer nearly 252 million shares to existing shareholders at a 3:2 ratio for VND2.52 trillion ($98.42 million), to invest in transport infrastructure projects.

An industrial park developed by Becamex IJC. Photo courtesy of the company.
The share issuance is expected to be completed in 2025-2026, according the company’s plan to be summited to the AGM 2025, scheduled for April 9 in the southern province of Binh Duong.
Earlier, in February 2024, Becamex IJC offered 126 million shares to existing shareholders at a 2:1 ratio, raising VND3.78 trillion ($147.63 million).
As of December 31, 2024, Becamex IDC remained the largest shareholder, owning 49.8% of Becamex IJC’s charter capital, while the remaining 50.2% was held by small shareholders owning less than 5% each.
Of the total proceeds, the company, listed on the Ho Chi Minh Stock Exchange (HoSE) as IJC, will use more than VND1.16 trillion ($45.3 million) to invest in or settle construction contracts for the BOT (build-operate-transfer) project to upgrade and expand National Road 13’s section in Binh Duong.
Nearly VND715 billion will be contributed to Becamex Binh Duong Infrastructure Development JSC, VND374.5 billion for settling the company's debts, and VND265 billion for investment in the Ho Chi Minh City-Thu Dau Mot-Chon Thanh Expressway project.
Becamex IJC targets a total revenue of VND2.09 trillion ($81.62 million) and a post-tax profit of VND429 billion ($16.75 million) in 2025, up 78% and 21% year-on-year respectively. The company plans a dividend payout of 5% for this year.
The company's real estate segment is expected to see a 207% rise in revenue to VND990 billion ($38.66 million). Meanwhile, revenue from toll fees is expected to remain stable at VND309 billion, and others are projected to increase by 46% to VND787 billion.
Regarding real estate business plans for 2025, Becamex IJC will implement projects in Hoa Phu ward in Binh Duong New City, including the Sunflower II Villas, Hoa Loi Residential Area, Hoang Tu II Street, Hoa Loi Resettlement Area, and IJC Aroma Apartments.
The company also plans to acquire land use rights from Becamex IDC (HoSE: BCM) and Becamex Binh Phuoc Infrastructure Development JSC to expand its land bank. It aims to complete the National Road 13 upgrade and expansion project.
Additionally, Becamex IJC intends to complete its capital contributions to projects such as Ho Chi Minh City Ring Road 4’s Thu Bien-Saigon River section (Phase 1), the HCMC-Thu Dau Mot-Chon Thanh Expressway. It will increase the revenue share from financial investments and toll revenue to balance its total revenue structure for stable growth in the following years.
For 2025, its total investment is expected to reach VND2.4 trillion ($93.73 million), with VND715 billion for Becamex Binh Phuoc Infrastructure Development JSC, VND500 billion for the National Road 13 upgrade and expansion project, and VND295 billion for Ring Road 4’s Thu Bien-Saigon River section (Phase 1).
In terms of dividends, Becamex IJC proposed a 5% cash dividend payout for 2024, totaling VND188.9 billion ($7.38 million), expected to be paid in the fourth quarter of 2025.
On the stock market, IJC shares stood at VND14,200 ($0.55) apiece at Friday’s close.
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