HÀ NỘI — Ton Dong A Corporation has officially submitted its application for listing on the Hochiminh Stock Exchange (HoSE), marking a major milestone in the company’s growth and capital expansion strategy.

The move follows the company’s trading activities on the Unlisted Public Company Market (UPCoM), where it has been listed since September 7, 2023.

Currently, Ton Dong A has over 149 million shares in circulation, with a closing price on UPCoM of VNĐ17,100 per share on December 3. This gives the company an estimated market capitalisation of more than VNĐ2.5 trillion (US$96.1 million).

Founded in 1998 under the name Dong A Co., Ltd., the company has since rebranded as Ton Dong A.

During its annual general meeting, shareholders approved a business plan that includes obtaining a listing on HoSE and timing the application to align with legal requirements.

Ton Dong A recently issued dividends for 2024 at a rate of 30 per cent, resulting in the issuance of more than 34.4 million new shares and increasing the company’s charter capital to VNĐ1.49 trillion.

On expansion plans, Phạm Quốc Thắng, a member of the Board of Directors, shared insights on future investments aimed at enhancing production capacity.

The company currently produces 800,000 tonnes of steel per year, with operational efficiency exceeding 90 per cent in 2024.

It is also preparing to invest in a new galvanised steel plant (Plant No. 4) to add 1.2 million tonnes per year, alongside a tubular steel plant (Plant No. 5) expected to contribute 150,000 tonnes annually.

Upgrades to Plant No. 3 are anticipated to increase output by an additional 50,000 tonnes of steel.

Thắng said that legal paperwork for Plant No. 4 is in its final stages, with construction projected to begin in the final months of 2025. — BIZHUB/VNS