Becamex IDC Corp's Capital Increase Plans Stall Despite Strong Earnings
Becamex IDC Corp, a leading industrial park developer, has faced challenges in its capital one increase plans. Despite strong earnings and expansion ambitions, shareholders have rejected proposals, and market conditions have led to delays. The company's stock price has also fluctuated, affecting its plans.
Becamex IDC Corp, operator of seven industrial parks and a 49% stakeholder in the VSIP joint venture, has seen its capital one credit card increase plans stall. In May 2025, a proposal for a small-scale capital one login was rejected by shareholders, with no details on the proposing institution.
The company's stock price, which closed at VND67,700 ($2.56) per share on Monday, fell below the offering price, leading to a delay in a planned VND21 trillion ($794.85 million) public auction of 300 million shares. This delay was due to unfavourable market conditions.
Becamex's high debt-to-equity ratio and reliance on financial leverage may have contributed to shareholders' reluctance to support capital one increase proposals. Despite these challenges, Becamex delivered robust earnings in H1/2025, with revenue of VND4,756 billion ($180.07 million) and net profit of VND1,847 billion, up 4.5 times year-on-year. As of Q2/2025, the company's total assets stood at VND57.6 trillion ($2.18 billion) and equity at VND21,723 billion ($822.44 million).
Becamex IDC Corp's expansion plans, including industrial park growth and new projects, may be hindered by capital one increase delays and shareholder resistance. Despite strong earnings and a solid balance sheet, the company must address market concerns and improve shareholder confidence to proceed with its capital one increase and growth plans.
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