Century Fiber ‘Fails’ to Sell 13.5 Million Shares in Private Placement

Century Fiber Corporation (STK) has announced that its private placement of 13.5 million shares ended without participation from any investors due to unfavorable market conditions. Previously, the shares were set to be sold at a minimum price of 27,500 VND each. Notably, leaders such as Vice Chairwoman Dang My Linh and Chairman Dang Trieu Hoa had intended to purchase these shares but were unsuccessful.

The company planned to use the over 371 billion VND expected from this sale to invest in its subsidiary and bolster working capital. For Q1 2025, STK reported a revenue of nearly 376.4 billion VND, a 41.6% year-over-year increase, and a net profit of 35.6 billion VND, 50 times higher than Q1 2024. For 2025, the target is over 3.270 trillion VND in revenue and 309.8 billion VND in profit, representing increases of 270.2% and 2,498.1%, respectively. As of March 31, 2025, total assets reached approximately 3.890 trillion VND.