Biwase plans to transfer part of its subsidiary’s capital

The Board of Directors of Binh Duong Water – Environment Corporation (Biwase, stock code: BWE) has approved a resolution to transfer shares of Long An Biwase Water Company to Thủ Dầu Một Water Company (TDMWater, stock code: TDM). The specific amount of shares to be transferred is not yet disclosed, but Biwase Long An will remain a subsidiary. Mr. Nguyễn Văn Trí and Mr. Nguyễn Thanh Phong, both members of Biwase’s Board, are also part of TDM’s Board. The consolidated financial report for Q1 2025 indicates that Biwase is a joint venture of TDM with a voting interest of 37.42%. Additionally, Biwase has decided to establish a single-member company for wastewater treatment with a charter capital of 30 billion VND, entirely owned by Biwase. Biwase also plans to acquire 20% to under 50% of the voting shares of Vĩnh Long Water Supply Company, which will make it a joint venture. Finally, Biwase reported on the progress of using funds from its 2020 bond issuance, showing 98.5% completion as of May 4, 2025.