Hoa Phat Agriculture, a subsidiary of the Hoa Phat Group, Vietnam’s largest steelmaker, announced on Wednesday its intention to go public by as early as the end of 2025, aiming to raise funds to expand its farm investments and animal feed production facilities.
The company set a minimum valuation of 11,887 dong ($0.4508) per share but did not disclose the expected size or proceeds of the deal.
The announcement follows similar listing plans by other Vietnamese firms, including the securities arms of Techcombank and VPBank.
Proceeds from the IPO will be used for farm investments, animal feed factories, working capital, and the expansion of its production scale, it said.
Founded in 2015, Hoa Phat Agriculture produces animal feed and raises pigs, poultry and beef.
The company posted revenues of 4.3 trillion dong ($163.06 million) for the first half of 2025, a 61% annual increase, with net profit reaching 939 billion dong.
Shares of parent group Hoa Phat rose slightly by 0.17% to 30,000 dong per share as of 0403 GMT.
($1 = 26,370 dong)
Reuters
