Tiếng ViệtOn the morning of July 28, 2026, MST Investment Joint Stock Company (HNX: MST) convened an Extraordinary General Meeting of Shareholders, with the main focusing on revisions to the convertible bond issuance plan previously approved at the Company’s 2026 Annual General Meeting of Shareholders.
Specifically, General of shareholders (GMS) approved the cancellation of the private placement plan for convertible bonds adopted at the 2026 Annual General Meeting held on April 6. According to the Company, the revision was made in consideration of prevailing circumstances and is intended to better align the fundraising plan with MST’s updated development strategy and business direction.
In replacement of the previous plan, the GMS approved a private placement of 11,000 convertible bonds without warrants, with the specific terms and structure to be determined by the Board of Directors. The bonds will have a five-year tenor and a par value of VND 100 million each, representing a total issuance value of VND 1.1 trillion.
The offering will be made to professional securities investors and strategic investors.
The conversion price will be determined by the Board of Directors. However, it must not be lower than the book value per share calculated based on the Company’s most recent consolidated financial statements or reviewed semi-annual consolidated financial statements, and in all circumstances must not be lower than VND 10,000 per share.
The issuance is expected to be completed within 2026.
Focusing Resources on a Low-Rise Housing Project in Hoai Duc, Hanoi
The only material change from the plan approved at the 2026 Annual General Meeting relates to the intended use of proceeds.
Under the previous plan, the proceeds were expected to be directly allocated to the Greenhill Village Quy Nhon Resort Project, the Western Tan Ky Township Urban Area Project and the Him Lam Urban Residential Area Project.
Under the revised plan, the proceeds will instead provide the financial resources required for MST to participate in the land-use-right auction and invest in the Low-Rise Housing Development for Sale at the X2 Land-Use-Right Auction Site in An Thuong Commune, now An Khanh Commune, Hoai Duc District, Hanoi.
The project covers a total land area of nearly 54,000 square metres and has an operating term of 50 years, with estimated total investment exceeding VND 2.45 trillion.
Of the total project area, more than 20,700 square metres will be allocated for the development of low-rise residential properties for sale. Approximately 850 square metres will be used for a community facility, more than 4,800 square metres for green spaces and sports facilities, 1,800 square metres for parking, and more than 20,600 square metres for internal roads and technical infrastructure.