Northern Textiles and Garments to raise capital, elect new board member

Northern Textiles and Garments Joint Stock Company (HNX:TET) will hold an extraordinary general meeting on December 26, 2025, at A25 Luxury Hotel in Hanoi. The meeting aims to approve a private placement to increase charter capital and elect one additional member to the Board of Directors for the 2025-2030 term. The current charter capital is VND 57,029,400,000, with 5,702,940 outstanding shares.

The company proposes to offer 75,000,000 new shares at VND 15,000 per share, aiming to raise VND 1,125,000,000,000. This would increase the charter capital to VND 807,029,400,000. The private placement is primarily intended to fund real estate development projects and expand business cooperation. Shareholders approved to attend the meeting are those on record as of November 25, 2025.

The election of the new board member will follow a cumulative voting method, with candidates requiring at least 51% of the voting shares present to pass the resolution. A draft resolution and the electoral rules for the Board of Directors have been released, with the company noting an expected 05 board members for the 2025-2030 term.