Gelex Infra to raise 2,860 billion VND via private share offering

Gelex Infra (GEL) has approved a resolution to conduct a private share offering of 100 million shares to three professional investors. At a price of 28,600 VND per share, the company expects to raise approximately 2,860 billion VND.

The proceeds, after deducting related costs, are intended for debt restructuring to facilitate capital contributions for the Gia Binh International Airport construction project. Specifically, 2,431 billion VND will be used to repay principal loans to GELEX Group JSC, while the remaining 429 billion VND will repay loans to Gelex Investment Co., Ltd. The capital utilization is planned from the fourth quarter of 2026 through the second quarter of 2027.

The three designated investors include An Binh Securities Investment Fund Management JSC and VietinBank Fund Management Company Limited, each set to purchase 49 million shares, and individual investor Nguyen Van Hieu, who plans to purchase 2 million shares. If successful, the company's charter capital will increase from 8,900 billion VND to 9,900 billion VND. The offering is subject to approval from the State Securities Commission and requires a minimum success rate of 70%.