Stocks hit floor price for many sessions, industrial park giant postpones historic deal

Becamex IDC is a large industrial park real estate enterprise in Vietnam - Photo: BCM

Becamex IDC Corporation (BCM) has just announced a resolution to temporarily postpone the public offering of additional shares to increase charter capital.

According to Becamex, this move aims to ensure the interests of businesses and shareholders in unfavorable stock market conditions.

The "big guy" in the industrial park real estate industry said it will consider, decide and implement an additional public offering of shares to increase capital at a more suitable time.

Previously, Becamex IDC planned to organize an offering of 300 million shares through an auction at the Ho Chi Minh City Stock Exchange (HoSE), with a starting price of VND69,600 per unit.

If the auction goes smoothly, this business can collect about 20,880 billion VND, thereby increasing its capital to 13,350 billion VND.

The new move from Becamex IDC has attracted attention, as securities companies assess this as the largest share auction in the past 5 years of the Vietnamese stock market, with a minimum amount of proceeds equivalent to 800 million USD.

Analysts say that postponing the deal, although undesirable, is necessary for Becamex IDC in the context of an unpredictable stock market.

In the last two sessions, the VN-Index has rebounded strongly after a series of four record-breaking declines. However, the market's next move depends largely on the "unknowns" from the escalating trade war.

Not to mention, industrial real estate is also one of the industries directly affected when the reciprocal tariff from the US takes effect.

On the stock market, BCM hit the floor at the opening session today (April 11), then "recovered" but still lost points. Previously, this stock also hit the floor in 4 consecutive sessions from April 3 to 9, except for the session on April 10 when it hit the ceiling following the general trend.

The share price has dropped from VND75,600 to only VND59,700/unit, significantly lower than the expected public offering price.

Becamex IDC is known as one of the largest units in the field of industrial and commercial real estate development in Vietnam.

According to the 2023 annual report, the total area of ​​industrial park land that the company has left by the end of the year is about 3.5 million ^m2 , including areas such as My Phuoc, Bau Bang expansion and Thoi Hoa, all located in Binh Duong province.

In addition to BCM, many other industrial park real estate businesses also had their plans "disrupted" after new developments in US taxes.

For example, at Kinh Bac Urban Development Corporation (KBC), this enterprise has just had to extend the time to hold the annual general meeting of shareholders in 2025. Accordingly, the enterprise plans to hold the meeting no later than June 30.

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BINH KHANH

Source: https://tuoitre.vn/co-phieu-nam-san-nhieu-phien-ong-lon-khu-cong-nghiep-hoan-thuong-vu-lich-su-20250411161608282.htm