DHG

DHG, a leading Vietnamese pharmaceutical firm, is at the center of a foreign M&A wave as the market is projected to reach $10 billion by 2026. Taisho Pharmaceutical's acquisition of DHG for an estimated VND 7,000 billion exemplifies the trend, driven by aging demographics and rising healthcare spending.

DHG Pharmaceutical (DHG) faces a VND 10 billion tax penalty and back-tax order for declaration errors, with payment due in 10 days. The fine is small relative to DHG's quarterly net profit of VND 310 billion, but the regulatory action highlights compliance risk.

Nam Hoa (NHT) leads Vietnamese listed firms with a 27.3% cash dividend yield for 2025, more than triple the 7.5% bank deposit rate. Other companies like PAP, FPT Online, VEAM, Sabeco, BMP, and DHG also offer yields above 14%. Analysts note these stocks suit value investors but suffer from low liquidity and concentrated shareholder bases.

Vietnam's top three pharma companies by market cap—DHG, IMP, and DHT—are now under foreign control or significant influence, with Taisho, Livzon, and ASKA as key shareholders. The sector is projected to double from $8-9 billion to $16 billion by 2032, driving M&A interest.

37 Vietnamese listed companies, including HPG, DHG, and FMC, will close shareholder lists for cash or stock dividends during the week of May 11-15, 2026. DHG leads with a 50% cash dividend (VND 5,000/share), while HPG pays 5% (VND 500/share) and FMC 20% (VND 2,000/share). The concentrated ex-dividend week provides a clear calendar for income-focused investors.

LPB (LPBank) announces a record 30% cash dividend for 2025, distributing nearly VND 9,000 billion to shareholders, the highest in its history and among the top in the banking sector. The payout is funded from distributable profits of VND 9,409 billion. HPG, SIP, and DHG also feature in the week's dividend events.

DHG Pharma (DHG) will pay a 50% cash dividend (VND 5,000/share) on May 28, 2025, distributing nearly VND 653 billion. Major shareholders Taisho Pharmaceutical (51%) and SCIC (43%) will receive about VND 333 billion and VND 280 billion respectively. The company plans a second 50% cash dividend in September 2025, maintaining its high-dividend policy.

DHG Pharmaceutical (DHG) faces potential delisting as retail shareholder ownership stands at 5.68%, below the 10% minimum required by Vietnamese securities law. The company is in discussions with the State Securities Commission (SSC) and expects a decision within a year, while major shareholders Taisho and SCIC express intent to maintain public status for transparency and brand credibility.

VNDirect (VND) posted Q1 2026 pre-tax profit of VND 681 billion, a 43% year-on-year increase, as part of a broader earnings release wave. TP Securities (ORS) led with a 1,961% surge to VND 42 billion, while ACBS grew 67% to VND 303 billion, highlighting divergent performance in Vietnam's securities sector amid mixed market conditions.

IMP is now majority-owned by China's Livzon after a VND 6,000B deal for 67.87% of shares. The acquisition gives Livzon control of IMP's 12 EU-GMP production lines, a rare asset in Vietnam. The deal underscores a broader trend of foreign domination among top Vietnamese pharma firms, including DHG (Taisho), DMC (Abbott), and DHT (ASKA).