Nam Kim Steel Joint Stock Company (ticker NKG) has completed the public offering of 131.6 million shares, raising over 1.5 trillion VND. The offering occurred in two phases from late 2024 to early 2025, priced at 12,000 VND per share, totaling 1.5796 trillion VND (net 1.5793 trillion after costs). This capital will be invested in the Phu My factory project, with a total phase 1 investment of 4.5 trillion VND, expected to operate by late 2025 or early 2026.
Although NKG’s revenue in Q4 2024 reached 4.469 trillion VND (up 0.2% year-on-year), net profit fell to over 18 billion VND, down 18% due to rising costs. The total profit for the year 2024 reached 453 billion VND (up 286% compared to 2023), exceeding the target by 33%. The business outlook for Nam Kim remains positive with a total annual revenue of 20.609 trillion VND.
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