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Vinaconex Construction and Import-Export Joint Stock Corporation (Vinaconex, HOSE: VCG) has registered to purchase more than 2.2 million shares of Giay Thuong Dinh Joint Stock Company for investment purposes.
The transaction is expected to be carried out from May 15 to June 12 via matched orders and/or negotiated deals. If completed, Vinaconex will hold 24.03% of Giay Thuong Dinh’s charter capital.
At Giay Thuong Dinh’s 2026 annual general meeting on May 6, shareholders approved Vinaconex’s acquisition of the shares from existing shareholders without conducting a public takeover offer.
Meeting materials show that on April 17, 2026, the Board of Directors of Giay Thuong Dinh received a proposal from Ms. Mai Huyền Trang, a shareholder holding 22.13% of voting shares and representing a group of shareholders owning a total of 24.03% of charter capital. The group proposed adding the transfer of shares to Vinaconex to the agenda of the 2026 ordinary general meeting.
Vinaconex-related An Quý Hưng Holdings currently holds more than 2.2 million GTD shares, equivalent to 24% of Giay Thuong Dinh’s charter capital.
An Quý Hưng Holdings was newly established in October 2025, with Mr. Nguyen Xuan Tung as CEO. The company’s charter capital is 500 billion VND, of which Mr. Nguyen Xuan Dong (the new Chairman of Vinaconex) holds 79.2%, Ms. Do Thi Thanh (his wife) holds 19.2%, and Mr. Nguyen Xuan Tung holds the remaining 1.6%.
Following the transaction, Vinaconex and related parties are expected to own a total of 48.03% of Giay Thuong Dinh’s charter capital.
At the same meeting, Giay Thuong Dinh shareholders also approved plans to relocate the production plant from 277 Nguyen Trai Street, Khương Đình ward, Hanoi to the Dong Van Industrial Zone in Ninh Binh Province.
After the relocation, the company plans to develop a mixed-use project on a 3.6-hectare site, combining residential, office, commercial services, and a multi-level school.
The approved plan sets the project’s total investment at about 9.907 trillion VND.
For financing, the company plans to use about 1.981 trillion VND of equity, equivalent to 20% of the total investment. The remaining approximately 7.925 trillion VND will be raised from debt.
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