A plastic company wants to “cancel” 25% of its charter capital, share price increases by 50% in 4 months

CTCP Nhựa Tân Đại Hưng (TPC) has recently announced its business results exceeding targets in the past 9 months, with third-quarter revenue reaching 126.2 billion VND, an increase of over 10%. The company plans to reduce its charter capital by 25% by buying back and canceling 5.7 million shares to increase dividend ratios for shareholders. The goal is to reduce capital from 225 billion VND to about 168 billion VND. TPC has exceeded its profit target by 2% for the year 2025. TPC shares have also seen significant growth, rising from 8,200 VND to 12,500 VND in just 4 months, equivalent to a 50% increase. New Chairman Pham Trung Cang stated that the toughest period for the enterprise has passed and mentioned that the company is negotiating with a major customer from Europe to supply new products.