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Tasco JSC (HNX: HUT) has approved the establishment of a new subsidiary, Tasco Mobility Co., Ltd., and also announced changes to its board of management. In addition, the company disclosed plans to issue convertible bonds to raise capital for multiple investment projects.
Tasco’s Board resolution approved the creation of Tasco Mobility Co., Ltd., headquartered at Floor 20, Tasco Building, HH2-2, Pham Hung Street, Tu Liêm Ward, Hanoi.
The subsidiary’s main business activities include retail and wholesale of cars, car dealerships, other motor vehicles, and related activities.
Tasco Mobility is planned to have charter capital of VND 500 billion, fully contributed by Tasco, representing 100% ownership. The capital contribution is expected to be completed within 90 days from the time Tasco Mobility receives its Certificate of Enterprise Registration.
Mr. Hoang Anh Tuan has been authorized to oversee all capital contributions and will serve as Chairman and legal representative of Tasco Mobility.
Tasco also notified the Hanoi Stock Exchange (HNX) of management changes. Effective 20 April 2026, Hoang Minh Hung was appointed as a Board member, while Nguyen Danh Hieu and Phan Thi Thu Thao were dismissed from the Board.
These changes were approved by Tasco shareholders at the 2026 annual general meeting held on 20 April 2026.
At the same shareholder meeting, Tasco approved a plan to issue more than 35.6 million convertible shares into ordinary shares, without collateral and without warrants.
The company plans to offer the bonds to the public to existing Tasco shareholders with a rights ratio of 30:1—meaning 30 shares entitle one right to buy one bond. The offering price is VND 100,000 per bond, with a 5-year tenor.
The convertible bonds will have a conversion ratio of 1:10, meaning each bond converts into 10 ordinary shares. Investors may convert at any time during the 5-year term or hold until maturity.
Bonds not converted at maturity will be automatically converted into shares, and the company will not repay principal.
The conversion price is set at VND 10,000 per share.
If the bond issue is completed, Tasco expects to raise nearly VND 3,561 billion. The proceeds are planned to be allocated as follows:
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