Sonadezi Long Thanh (SZL) to Sell All 1.2M Treasury Shares at Minimum 45,000 VND

Overview

Sonadezi Long Thanh (SZL) announced a board resolution to sell all remaining 1.2 million treasury shares, representing 100% of its treasury stock, at a minimum price of 45,000 VND per share. The sale is intended to raise working capital and is expected to occur in Q2-Q3/2026 via order matching and negotiated transactions on the Ho Chi Minh Stock Exchange (HoSE).

Key Facts

• SZL plans to sell all remaining 1,200,000 treasury shares, equivalent to 100% of its treasury stock.
• Minimum sale price is set at 45,000 VND per share.
• Transaction period is expected in Q2-Q3/2026, with a maximum duration of 30 trading days.
• Daily sell orders must be between 3% and 10% of the registered volume, except when remaining volume falls below 3%.
• In a prior sale (March 26 to April 24, 2026), SZL sold only 558,000 of the nearly 1.8 million registered treasury shares, raising approximately 27.5 billion VND at an average price of 49,237 VND/share.
• Q1/2026 net profit after tax reached 32.1 billion VND, up 21.6% year-on-year, on net revenue of 138.9 billion VND (+11%).
• Total assets as of March 31, 2026 stood at nearly 2,180 billion VND, up 7.5% from the start of the year.

What Happened

Sonadezi Long Thanh Joint Stock Company (ticker: SZL) announced via a board resolution that it will sell all remaining 1.2 million treasury shares to supplement working capital. The sale will be conducted on HoSE through both order matching and negotiated methods, with a minimum price of 45,000 VND per share. The transaction is subject to approval from the State Securities Commission (SSC) and is expected to take place in the second or third quarter of 2026.

The company previously attempted to sell nearly 1.8 million treasury shares between March 26 and April 24, 2026, but only 558,000 shares were sold due to insufficient buyer demand. The average selling price in that round was 49,237 VND per share, generating proceeds of approximately 27.5 billion VND.

Market Context

SZL shares closed at 53,000 VND on May 26, 2026, up 1.53% with low volume of 10,700 shares. The stock trades on HoSE in the real estate sector. The planned treasury share sale at a minimum price of 45,000 VND represents a discount of about 15% to the current market price, which may attract investor interest. The company’s Q1/2026 results showed solid earnings growth, with net profit rising 21.6% year-on-year, supported by a 11% revenue increase.

Strategic Significance

The treasury share sale is a capital management move aimed at strengthening SZL’s working capital position. With total liabilities of over 1,462 billion VND (up 8.7% from the start of the year) and long-term deferred revenue accounting for 50.2% of total liabilities, the company may be seeking to improve liquidity. The sale also reduces the number of treasury shares, potentially increasing the free float and trading liquidity. However, the partial failure of the prior sale suggests that demand may be limited at the current price levels.

What to Watch

• SSC approval timeline and any conditions imposed on the sale.
• Actual selling price achieved versus the 45,000 VND minimum and the prior average of 49,237 VND.
• Investor demand during the transaction period, especially given the low volume in the previous attempt.
• SZL’s Q2/2026 earnings report to assess working capital needs and overall financial health.
• Any changes in the company’s investment portfolio, particularly long-term financial investments of 398 billion VND.