Biwase plans to transfer part of its ownership in Biwase Long An Water Joint Stock Company to Thu Dau Mot Water Joint Stock Company. If the transaction is successful, Biwase will remain the parent company of Biwase Long An Water Joint Stock Company.
On the contrary, Thu Dau Mot Water has approved the policy of receiving the transfer of shares at Biwase Long An Water from Biwase shareholders. After the transaction, it is expected that Biwase Long An Water will become an affiliated company of Thu Dau Mot Water.
According to the consolidated financial report for the first quarter of 2025, Biwase currently owns 94.54% of the charter capital at Biwase Long An, equivalent to a recorded investment value of VND 794.7 billion. Thus, Biwase will only transfer a part of the capital, not sell all the shares it holds.
Notably, Thu Dau Mot Water is a unit related to two members of Biwase's Board of Directors, Mr. Nguyen Van Tri and Mr. Nguyen Thanh Phong.
This capital transfer is a strategic move, creating financial resources for Biwase Long An Water to implement expansion investment projects. Previously, Biwase Long An Water recorded positive business growth results in 2024 with total revenue reaching VND 378.93 billion and profit of VND 19.28 billion.
The upcoming investment focus is the project to increase the capacity of Nhi Thanh Water Plant in Long An. This expansion meets the increasing demand for clean water in Long An province and neighboring areas, while opening up the potential for revenue and profit growth for Biwase Long An Water in the future.
Source: https://baovanhoa.vn/kinh-te/nuoc-thu-dau-mot-tdm-du-kien-dau-tu-vao-nuoc-biwase-long-an-144396.html
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