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PVTrans Offshore Transport Joint Stock Company (PVTrans, ticker: PVT, listed on HOSE) has approved an increase in its charter capital via a share issuance to pay dividends. The company plans to issue nearly 47 million shares to existing shareholders, based on an entitlement ratio of 100:10, meaning shareholders will receive 10 new shares for every 100 shares held.
The total value of the issuance at par is more than VND 469.9 billion, funded from undistributed profits as of December 31, 2025. The implementation is subject to approval by the State Securities Commission (UBCKNN) and is expected to take place in 2026.
If the offering proceeds as planned, PVTrans’ charter capital will increase from VND 4,699 billion to VND 5,169 billion.
The dividend proposal was approved by PVTrans shareholders at the 2026 annual general meeting held on April 21, 2026.
At the same meeting, PVTrans also approved its 2026 business plan. The company expects consolidated revenue of VND 16,500 billion and after-tax profit of around VND 1,200 billion.
In Q1 2026, PVTrans reported revenue of approximately VND 4,177.1 billion, up 49.7% year-on-year. After taxes and fees, net profit reached over VND 387.4 billion, up 39.9% year-on-year. By the end of the first quarter, the company had achieved 25.3% of its revenue target and 32.3% of its after-tax profit target.
PVTrans attributed the increase in net profit primarily to higher earnings from new ships invested in 2025 and improved fleet utilization.
As of March 31, 2026, PVTrans’ total assets decreased by VND 48.4 billion compared with the start of the year, to over VND 22,260.3 billion. Fixed assets were about VND 12,894 billion, accounting for 57.9% of total assets. Investments held to maturity totaled about VND 3,709.2 billion, or 16.7% of total assets.
On the liabilities side, total liabilities were about VND 10,382.7 billion, down 4% from the year start. Borrowings and finance lease liabilities were VND 7,214.6 billion, representing 69.5% of total liabilities.
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