Property developers plan stock issuances to raise capital.

This week, seven companies announced ex-rights to pay dividends, with four planning cash dividends and three planning stock dividends.

TTC Land proposes share swap to raise capital

Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land, SCR) published materials for its 2026 annual general meeting. TTC Land proposed issuing shares to swap Thành Thành Nam’s stake held by eight investors at a swap ratio of 2.2, meaning each TTN share would be exchanged for 2.2 newly issued SCR shares.

TTC Land will issue up to nearly 186 million shares. If completed, SCR’s charter capital would increase from around VND 4,306 billion to around VND 6,166 billion. After the transaction, TTC Land would become the major shareholder, holding 99.6% of Thành Thành Nam’s charter capital.

Thành Thành Nam is a subsidiary of TTC Group, with its main business focused on management and exploitation of products and services.

SMC targets VND 7,000 billion revenue and proposes multiple share offerings

SMC Investment and Trading Joint Stock Company (SMC) released its 2026 AGM materials, including a revenue target of VND 7,000 billion and net profit after tax of VND 30 billion.

Rights offering and use of proceeds

SMC proposed offering nearly 37 million shares to existing shareholders at VND 10,000 per share, raising VND 368 billion. The company plans to use VND 218 billion to repay borrowings and VND 150 billion to settle payables.

Private placement and capital injections

SMC also proposed a private placement of 15 million shares at VND 10,000 per share, raising VND 150 billion. Shares under this plan would be subject to a 1-year transfer restriction. The funds would be used to increase capital into SMC Phu My Steel Processing Co. (VND 50 billion) and SMC Phu My Precision Mechanics Co. (VND 100 billion).

ESOP issuance

In addition, SMC presented a plan to issue shares under an ESOP program, expected to issue up to nearly 4 million shares at VND 10,000 per share, with ESOP shares restricted for transfer for 1 year.

PDR proposes rights issue and dividend share issuance

Phat Dat Real Estate Development Joint Stock Company (PDR) published 2026 AGM materials, including a plan to issue shares to existing shareholders. Under the plan, PDR would issue up to nearly 200 million shares to shareholders with a rights issue ratio of 5:1, meaning 1 share would receive five rights to buy one share. The offer price would be VND 10,000 per share.

PDR’s charter capital would increase by VND 2.393 trillion, from VND 9.978 trillion to VND 12.371 trillion.

Planned use of funds

Total proceeds expected from the offer would be about VND 1.996 trillion. PDR plans to use VND 1.550 trillion for project investments, including VND 629 billion to contribute capital to the Da Nang Centre Point project and about VND 921 billion to buy shares in the same project entity. The remaining VND 300 billion would be used to acquire shares in AKYN and nearly VND 146 billion to strengthen working capital.

Dividend issuance in shares

PDR also proposed issuing shares to pay dividends at 10% of total outstanding shares. Up to about 120 million additional shares could be issued. If both issuances proceed, PDR’s charter capital would rise by VND 2.393 trillion to VND 12.371 trillion.

BSH ex-dividend date for 2025 dividends

On April 8, the ex-dividend date for 2025 dividends of Saigon Beer - Hanoi Beer - Beverage Joint Stock Company (BSH, ticker BSH) was announced. With 18 million outstanding shares, BSH will pay VND 27 billion in dividends.

The parent Sabeco (SAB) holds 52% of charter capital and is expected to receive more than VND 14 billion.