On April 28, 2025, Becamex IDC will auction 300 million BCM shares with a starting price of 69,600 VND/share. If successful, this would be the largest share auction in Vietnam’s stock market history, raising at least 20.88 trillion VND. However, Becamex faces challenges due to its concentrated shareholding structure, with the People’s Committee of Binh Duong Province holding 95.44% of shares, resulting in a high state control post-auction. Institutional investors could acquire strategic shares, but not enough to control decisions. For retail investors, the current price of BCM shares is high, while revenue is declining, causing concerns. Financially, growth is positive but debt has significantly increased. Becamex previously held unsuccessful auctions. The flagship project is the new Binh Duong city, expected to generate substantial future revenue. Estimated revenue in 2025 is 7.2 trillion VND with a net profit of 3.6 trillion VND.
Leave a Reply