BCM

BCM, PLX, and GVR do not meet public company conditions due to concentrated shareholder structures, with state ownership exceeding 95% in BCM and GVR. Transitional regulations under Law 68/2025/QH15 allow them to maintain public company status while executing approved restructuring plans. BCM targets reducing state ownership to 65% by 2026-2030 via public issuance, while PLX plans to sell treasury shares to comply.

GVR confirms it will not lose public company status despite having only 3.23% of shares held by non-major shareholders, well below the 10% threshold. The exemption applies under transitional regulations for state-owned enterprises undergoing capital restructuring as per Decree 57/2026. This regulatory clarity removes a key overhang for GVR and similar SOEs like BCM and PLX.

Becamex Group (BCM) proposes a 10% cash dividend for 2026 and a 14% stock dividend for 2025, with 2026 revenue and profit targets of VND 10,230B (+4%) and VND 3,883B (+10%). The dividend plan signals stable cash flow, though BCM currently does not meet public company thresholds due to low minority ownership.

BCM proposes cutting state ownership from 95.44% to above 65% during 2026-2030 through a public share issuance, aiming to comply with public company shareholder structure requirements. The move follows a failed 300 million share auction in early 2023 due to unfavorable market conditions.

BCM proposes cutting state ownership from 95.44% to over 65% to comply with public company shareholder structure rules, targeting a public share issuance in 2026-2030. The move is critical for BCM to maintain its public company status under new state capital management laws effective August 2025.

The State Bank of Vietnam's Circular 4551 excludes incremental loans for social housing and industrial parks from real estate credit growth limits, effectively channeling capital to these priority sectors. Industrial park developers like KBC, IDI, SZC, BCM, and VGC are direct beneficiaries, with VGC also gaining from its social housing exposure.

BCM disclosed it fails the minimum shareholder structure requirement under the Securities Law, with non-major shareholders holding only 4.56% versus the required 10%. The company plans to reduce state ownership from 95.44% to above 65% via a public offering to comply, avoiding loss of public company status under transitional provisions.

MSB was the most sold stock by foreign investors in the last week of May, with net selling of VND 1,756 billion, contributing to a total foreign net outflow of VND 5,118 billion across the market. The selling pressure pushed VN Index down 0.73% to 1,863.49 points, highlighting persistent foreign divestment from Vietnamese equities.

On May 27, 2026, foreign investors net sold VND 791.4 billion (USD 31.66M) on the Vietnamese stock market, with retail investors also net selling VND 1,526.7 billion. Notable block trades included VIC (VND 1,597.5B) and VJC (VND 572.9B). MSB, MWG, and VPB were among the top foreign-bought stocks, while VHM, HPG, and VIC were sold.

The Vietnamese government will convene on May 19, 2026 with leaders of 23 state-owned corporations to review draft criteria for classifying and restructuring state capital. This directly impacts listed entities such as BID (79.7% state-owned), GVR (96.8%), BSR (92.1%), BCM (95.4%), ACV (95.4%), VGI (99.01%), and FPT (50.2% state-owned), many of which currently fail public company thresholds due to low free float.