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Xuân Cầu Holdings Joint Stock Company has announced its registration to buy approximately 14 million shares of Vietnam Water and Environment Investment Corporation (Viwaseen, ticker VIW). Mr. To Dung, chairman of the board at Xuân Cầu Holdings and also at Viwaseen, is named in the disclosed information.
Before the transaction, neither Xuân Cầu Holdings nor Mr. To Dung held any VIW shares. The number of shares registered for purchase is 13,924,464 units. The transaction is expected to be conducted via negotiated deals and on-exchange matching orders, with the execution period from 23 April 2026 to 22 May 2026.
If the purchase is successful, Xuân Cầu Holdings would become a large shareholder of Viwaseen, holding about 24% of the company’s capital.
In December 2025, Vinaconex (Code: VCG) became Viwaseen’s parent company after paying about VND 1,231 billion to acquire 98.16% of Viwaseen’s shares from the State Capital Investment and Business Corporation (SCIC). By March 2026, Viwaseen had updated its leadership, electing Mr. To Dung as the new Chairman of the Board.
On 21 April 2026, Vinaconex announced it had sold only 380,800 VIW shares out of more than 10.5 million registered due to unfavorable market conditions. This reduced Vinaconex’s stake to 97.5% of Viwaseen. Vinaconex continued to register to sell more than 42.06 million VIW shares as part of its investment restructuring, expected to take place from 23 April 2026 to 22 May 2026. If successful, Vinaconex’s stake would fall to more than 14.5 million VIW shares (25%).
Viwaseen, originally a state-owned enterprise, was established in 1975 and operates mainly in construction, water supply and drainage, and real estate investment. While annual revenue has consistently remained in the trillions of dong range, the company’s profit margin is described as relatively thin.
In Hanoi, Viwaseen’s land holdings include a 10,270.5 m2 plot in Ngọc Hồi (Thanh Trì), an 8,209 m2 plot at 48 Tố Hữu (Đại Mỗ ward), and a 12,555.7 m2 site at 56-58 ngõ 85 Hà Đình (Khương Đình ward). The company also holds a 1,282 m2 plot at 52 Quốc Tử Giám, Đống Đa district.
In Hải Phòng, Viwaseen manages the Vọng Hải residential area of more than 1.9 hectares and industrial plots in the Đình Vũ area.
On 22 April, VIW shares closed at the ceiling price of 34,200 dong per share. Viwaseen’s annual general meeting for 2026 was held on 23 April 2026 in Hanoi.
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