Chairman's son registers to acquire more NKG shares as stock hits the ceiling

Nam Kim Steel Joint Stock Company (HOSE: NKG) announced that a relative of the chairman registered to buy an additional 5 million NKG shares, citing personal financial investment as the stock traded near its lows and as the company disclosed its ambitious 2026 business plan.

Insider-related share purchase registration

The registration was made by Ho Minh Phat, the chairman Ho Minh Quang’s son, to purchase 5 million NKG shares for personal investment ahead of the 2026 annual general meeting.

The expected execution method is via negotiated deal and/or matching, from 17/04 to 15/05. If the transaction is completed, Mr. Phat’s shareholding would increase from 5 million shares to 10 million shares, equivalent to about 2.23% of the company’s charter capital.

Mr. Ho Minh Quang currently holds more than 71 million shares, representing 15.87% of charter capital. Combined, the family’s total ownership would exceed 18% of the company.

Market reaction

After the information was released, NKG’s share price rose to the ceiling of 15,500 dong per share by the afternoon of 14/04, with buy orders exceeding 1.5 million shares.

Leadership changes

In a related development, Nam Kim Steel announced a leadership change. Võ Hoàng Vũ will no longer serve as CEO and will become the permanent Vice Chairman of the Board for the 2025–2030 term, while also heading governance. The CEO role will be assigned to Nguyễn Vinh An, who is also a Board member for 2025–2030 and the legal representative from 15/04/2026.

2026 business plan and targets

For 2026, the company targets revenue of 22,000 billion dong and pretax profit of 400 billion dong, representing increases of 49% and 66% respectively compared with 2025. Total production is planned at 1.1 million tons.

The plan comes after a difficult 2025. Nam Kim reported 2025 pretax profit of 241 billion dong, down 56.8% year-on-year, citing weaker export channels due to trade protection measures.

Capital raising and investment plans

Nam Kim also plans to issue 125 million shares to existing shareholders at 12,000 dong per share under a 4:1 ratio. The company expects to mobilize nearly 1,500 billion dong for investment in the Nam Kim Phu My Tin Plate project, which has a total investment of 6,200 billion dong across two phases.

In the 2025 annual report, management expects phase 1 to become operational in Q2 2026.

ESOP issuance

The company plans to issue 6 million ESOP shares at 10,000 dong per share for executives and outstanding employees. ESOP shares are restricted from transfer for 50% for 1 year and 50% for 2 years.