Halong canned food to relocate factory, raise capital through share offering

Shareholders of Halong Canned Food Joint Stock Corporation (CAN) have passed resolutions for a major relocation and capital increase. The company plans to move its processing factory to land plot CN26-06 within the Nam Dinh Vu Industrial Park, with an estimated lease value of 68,098,272,000 dong for 34 years until 2059. The relocation is driven by the current factory's site being re-zoned as urban public green space.

In conjunction with the relocation, Halong Canned Food will invest 166,016,000,000 dong in a new canned food production factory, with an expected owner's equity contribution of 83,738,000,000 dong. Construction is slated to commence in Q2/2026 and complete in Q2/2027, with official operation beginning in Q2/2027.

To finance these initiatives, CAN will offer 5,000,000 additional shares to existing shareholders at a 1:1 ratio, priced at 15,000 dong per share. This offering is projected to raise 75,000,000,000 dong, with 50,000,000,000 dong allocated to the new factory project and 25,000,000,000 dong for working capital.