New "big guy" on the stock exchange: Hoa Phat Agriculture sets IPO price, surpassing a series of meat industry giants

The State Securities Commission has issued a Certificate of Registration for Initial Public Offering (IPO) to Hoa Phat Agricultural Development Joint Stock Company (HPA).

According to the plan, the Company will issue 30 million shares at VND41,900/share, expected to collect VND1,257 billion. This new capital will be used to restructure finances, repay loans, supplement working capital and prepare investment resources to expand livestock farms and animal feed factories.

Investors register to buy from November 24, 2025 to 4:00 p.m. on December 15, 2025 at the latest through the main distributor, Vietcap Securities Joint Stock Company. Register to buy a minimum of 100 shares and a maximum of 14.25 million shares (equivalent to no more than 5% of charter capital after the offering). Investors must deposit 10% of the registered purchase value.

Hoa Phat Agriculture is a member company of Hoa Phat Group (Code: HPG), established in 2016 and currently has a charter capital of VND 2,550 billion. Headquarters located in Pho Noi A Industrial Park, Hung Yen province.

The company operates mainly in the field of animal feed production, pig, cow and poultry farming. Main products include HP Feed and BigBoss brand animal feed; breeding pigs and commercial pigs; Australian beef; and clean chicken eggs.

In terms of market share, Hoa Phat Agriculture is in the top 10 largest pig farming enterprises in Vietnam, top 13 largest animal feed production enterprises, leading in clean egg production in the North and whole Australian beef.

Thus, if the entire offering is successful, this company will increase its capital to VND2,850 billion, equivalent to 285 million outstanding shares. With a starting price of VND41,900/share, the enterprise will be valued at more than VND11,940 billion after the IPO.

This capitalization level will immediately surpass the scale of many livestock enterprises on the stock market (as of the end of November 20) such as Masan MeatLife (MML), Dabaco (DBC), BAF Vietnam (BAF), HAGL Agrico (HNG), Vilico (VLC), Vissan (VSN)... and is only behind Mr. Duc's HAGL in the industry.

In terms of charter capital, Hoa Phat Agriculture has a low scale among companies in the industry such as Dabaco (VND 3,849 billion), BAF Vietnam (VND 3,040 billion), Hoang Anh Gia Lai (VND 10,054 billion), Masan MeatLife (VND 3,403 billion), HAGL Agrico (VND 11,085 billion).

Regarding business activities in 2024, Hoa Phat Agriculture recorded net revenue of VND 7,084 billion and profit after tax of VND 1,031 billion, up 12% and 470% respectively compared to 2023.

In the first 9 months of 2025, net revenue reached VND 6,259 billion, up 28% over the same period. Profit after tax reached VND 1,297 billion, up 880% over the same period, even exceeding the profit for the whole year of 2024.

Source: https://daibieunhandan.vn/ong-lon-moi-tren-san-chung-khoan-nong-nghiep-hoa-phat-chot-gia-ipo-vuot-mat-hang-loat-dai-gia-nganh-thit-10396538.html