Vinaconex announced plans to sell 10,5 million VIW shares of its subsidiary, Vietnam Water and Environment Investment Corporation (Viwaseen). This move aims to restructure the company's investment portfolio. The transaction is slated to occur via order matching or negotiated deals between 20/3 and 19/4.

If the sale proceeds as planned, Vinaconex's ownership in Viwaseen will decrease from 98,16% to 80%. This divestment comes as VIW shares have experienced significant growth, recording seven consecutive ceiling-limit increases, equivalent to 162%, and reaching 40,900 dong per share as of 16/3. At this valuation, Vinaconex could potentially generate nearly 430 billion dong from the transaction.

VIW share price over the past year. *Screenshot*.

Established in 1975, Viwaseen primarily operates in construction, water supply and drainage infrastructure, and real estate. Vinaconex acquired a controlling stake in the company in 12/2025, spending approximately 1,200 billion dong to purchase over 98% of Viwaseen's shares from the State Capital Investment Corporation (SCIC).

Recent corporate developments include an extraordinary meeting on 5/3, where Viwaseen shareholders elected five new members to the Board of Directors for the 2026-2031 term. Notably, all elected individuals are new to the company's Board. Among them is Nguyen Xuan Dong, currently the general director and a Board of Directors member of Vinaconex.

The general meeting also appointed To Dung as Chairman of Viwaseen. Mr. Dung, born in 1962, serves as the chairman of Xuan Cau Holdings, a prominent real estate enterprise.

Last year, Viwaseen reported revenues of 975 billion dong and an after-tax profit exceeding 34 billion dong. These figures represent increases of 11% and 130% respectively compared to the previous year. The company's profitability improved due to reduced financial costs.

Trong Hieu