DXG Boosts Charter Capital to Nearly VND 12,700B After Bonus Share Issuance

Overview

DXG (Bluemarq Group) has completed a bonus share issuance of 155.7 million shares, increasing its charter capital to nearly VND 12,700 billion. The capital increase follows a strong Q1/2026 performance, with revenue up 59% YoY and net profit surging 173% YoY. The company also rebranded to CTCP Bluemarq Group and established new subsidiaries.

Key Facts

• DXG completed the issuance of 155.7 million bonus shares to 76,956 shareholders on May 29, 2026.
• The bonus share ratio was 100:14, meaning shareholders received 14 new shares for every 100 shares held.
• Charter capital increased from VND 11,141 billion to nearly VND 12,699 billion.
• The issuance was funded by VND 457.3 billion from retained earnings and VND 1,100 billion from share premium on the audited 2025 consolidated financial statements.
• Q1/2026 consolidated revenue rose 59% YoY to over VND 1,467 billion.
• Q1/2026 net profit after tax reached over VND 214 billion, up 173% YoY.
• The company achieved 80% of its full-year 2026 net profit target of VND 268 billion in just Q1.
• DXG rebranded to CTCP Bluemarq Group effective May 6, 2026, and established new subsidiaries including Bluemarq Investment and Bluemarq Asset Management.

What Happened

On May 29, 2026, DXG completed the allocation of 155.7 million bonus shares to existing shareholders, raising its charter capital from VND 11,141 billion to nearly VND 12,699 billion. The bonus shares were issued at a ratio of 100:14, with no transfer restrictions. The shares are expected to be transferred in June 2026.

The company also announced a corporate rebranding to CTCP Bluemarq Group, effective May 6, 2026. Several subsidiaries were renamed, including Hà An Real Estate Investment and Trading becoming Bluemarq Development, and Đất Xanh Commercial Investment becoming Bluemarq Asset Management. Additionally, DXG established Bluemarq Investment with charter capital of VND 20 billion (99.8% owned by DXG) and contributed VND 209.96 billion to Bluemarq Asset Management (99.8% ownership).

Market Context

DXG shares closed at VND 12,900 on June 4, 2026, down 1.15% with volume of 4,076,700 shares. The stock trades on HOSE. The bonus share issuance and strong Q1 results come amid a recovering real estate market in Vietnam, with DXG benefiting from increased brokerage activity and property sales. The company’s Q1 net profit of VND 214 billion already represents 80% of its full-year target of VND 268 billion, suggesting potential upside to guidance.

Strategic Significance

The capital increase strengthens DXG’s equity base, supporting its expansion plans and new subsidiary structure under the Bluemarq brand. The rebranding signals a strategic shift towards a more diversified group model, with separate entities for development, asset management, and investment. The strong Q1 performance, particularly in brokerage services (revenue tripled YoY), indicates that DXG is capturing market share in the recovering real estate brokerage segment. The low full-year profit target relative to Q1 results may imply conservative guidance or anticipated costs later in the year.

What to Watch

• Q2 2026 earnings release to see if the strong momentum continues.
• Progress of new subsidiaries (Bluemarq Investment, Bluemarq Asset Management) and their contribution to group revenue.
• Any further capital-raising activities or M&A as the group expands.
• Market reaction to the bonus share listing and potential dilution effects.
• Updates on the real estate market recovery and brokerage commission trends.