Khai Hoan Land (KHG) Acquires Real Estate Firm for VND 750B, Plans VND 1.25T 2026 Revenue

Overview

Khai Hoan Land Joint Stock Company (KHG) has approved the acquisition of 100% of Hoang Thao My Trading Service Co., Ltd. for VND 750 billion, as per a company resolution. Concurrently, its 2026 Annual General Meeting of Shareholders (AGM) approved an ambitious business plan targeting VND 1,250 billion in net revenue and a private placement of up to 80 million shares. This move signals a significant expansion and capital-raising effort for the HoSE-listed real estate developer.

Key Facts

• Khai Hoan Land (KHG) acquires 100% of Hoang Thao My Trading Service Co., Ltd. for VND 750 billion (approximately $30 million USD).
• The 2026 AGM approved a business plan targeting VND 1,250 billion in net revenue and VND 155 billion in pre-tax profit for 2026.
• This represents a 108% increase in revenue and a 77% increase in pre-tax profit compared to the audited 2025 results of VND 601.3 billion and VND 87.3 billion, respectively.
• The AGM approved a private placement of up to 80 million shares, targeting a maximum of 20 professional securities investors.
• The placement price will not be lower than the 20-day average closing price before the Board of Directors’ approval, with a floor of the par value of VND 10,000 per share.
• KH Invest Company Limited is authorized to purchase shares from the private placement and/or acquire voting shares from Chairman Nguyễn Khải Hoàn and his wife, potentially reaching a 25% or higher stake in KHG.
• Hoang Thao My Trading Service Co., Ltd. was established in February 2018 and operates in real estate business, with a charter capital of VND 750 billion.

What Happened

Khai Hoan Land Joint Stock Company (KHG) passed a resolution to acquire 100% of the capital contribution in Hoang Thao My Trading Service Co., Ltd., valued at VND 750 billion. The sellers are Hoang Tra My Trading Service Co., Ltd., holding 83.33%, and Director Trần Đăng Khoa, holding 16.67%. Hoang Thao My, established in February 2018, operates in the real estate sector.

Separately, on April 14, KHG held its 2026 Annual General Meeting of Shareholders, which approved several key items. The meeting passed a 2026 business plan targeting VND 1,250 billion in net revenue from sales and services and VND 155 billion in pre-tax profit. Compared to the audited 2025 results of VND 601.3 billion in revenue and VND 87.3 billion in pre-tax profit, this represents a doubling of revenue and a 77% profit increase. The AGM also approved a private placement of up to 80 million shares, with specific pricing mechanisms and restrictions, and authorized KH Invest to potentially increase its stake to 25% or more through share purchases.

Market Context

KHG is listed on the Ho Chi Minh City Stock Exchange (HoSE). The announcement comes as the company seeks to scale its operations significantly, with the 2026 revenue target marking a substantial leap from recent performance. The real estate sector in Vietnam has seen mixed trends, with developers often leveraging acquisitions and equity raises to fund growth amid market fluctuations. The private placement and acquisition news may attract investor attention to KHG’s expansion strategy and capital structure.

Strategic Significance

The acquisition of Hoang Thao My provides KHG with an immediate asset base and operational capacity in the real estate sector, potentially accelerating project pipelines or land bank development. The ambitious 2026 targets indicate management’s confidence in integrating this acquisition and driving organic growth. The private placement, coupled with the potential stake increase by KH Invest—linked to the controlling shareholders—suggests a strategic alignment to strengthen capital for expansion while possibly consolidating control, which could influence corporate governance and long-term strategic direction.

What to Watch

• Implementation of the Hoang Thao My acquisition and integration into KHG’s operations.
• Execution of the private placement, including final pricing and investor uptake.
• Progress toward the 2026 revenue and profit targets, starting with interim financial reports.
• Any filings related to KH Invest’s stake increasing to 25% or more in KHG.
• Broader real estate market conditions in Vietnam affecting KHG’s project development and sales.