Hoa Sen (HSG) plans subsidiary IPO in 2024

On March 18, Watson Group (code HM:) will hold its annual shareholder meeting (fiscal year 2023-2024) to solicit opinions on the plan.

Hossen Group AG (HSG – HoSE) has just released its annual report (fiscal year 2022-2023).

In addition to the consolidated operating results (October 1, 2022 to September 30, 2023) with revenue of VND31.65 trillion and profit after tax of VND30 billion, other noteworthy information is the IPO plans of the company’s member companies .

Planning for the 2023-2024 fiscal year, Huasen said it will continue to consolidate and improve the operating efficiency of Huasen Plastics Co., Ltd. for the plastic production and operation segment, and gradually implement the initial issuance. IPO) shall be conducted when resources are sufficient and market conditions permit.

The estimated implementation time is 2024-2026. If the economic situation is favorable, the board of directors will submit the initial public offering plan to the shareholders’ meeting for review and approval.

On March 18, Watson will hold its annual shareholder meeting (fiscal year 2023-2024).

It is understood that the address of Hoa Sen Plastic Joint Stock Company is located at Phu My I Industrial Park, Phu My Ward, Texas. Phu My, Ba Ria – Vung Tau Province. The company was established in 2007 and currently has a registered capital of VND300 billion. Watson Group currently owns 99.95% of the company’s shares.

Mr. Le Phuoc Vu currently serves as the Chairman of the Board, Mr. Vu Van Thanh serves as the Vice Chairman of the Board, and Mr. Truong Tan Dat serves as the General Manager.

The 2022-2023 fiscal year is the first year after Huasen Plastics transformed its operating model into a joint-stock company.

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