Vietnam's Masan High-Tech seeks approval for 5% private placement to fund tungsten expansion
HANOI - Vietnamese tungsten producer Masan High-Tech Materials is seeking shareholder approval for a private placement of up to 5% of its shares to long-term investors to fund mine expansion and downstream processing, following a stake sale to the Pentagon-backed US producer Elmet Group last month.
The shares would be offered to strategic investors, domestic and foreign institutional investors and professional securities investors, the company said in a filing dated October 1.
Masan High-Tech owns Nui Phao, one of the world's largest tungsten mines outside China. The mine accounts for nearly all of Vietnam's estimated annual tungsten output of about 3 400 metric tons.
Proceeds would be used to expand mining and deep-processing operations at the Nui Phao mine, develop higher value-added tungsten and strategic mineral products, and strengthen the company's balance sheet, according to the filing.
The offering price will not be lower than the most recent strategic transaction price, it added.
In September, Masan High-Tech announced that it would sell a 4.99% stake to Elmet Group in a deal valuing the company at about $2.5-billion, implying a value of roughly $125-million for the stake.
Shares in Masan High-Tech were trading at 60 500 dong on Monday afternoon and have risen 154% so far this year, according to LSEG data.
Tungsten, an extremely hard metal used in defence and electronics applications including ammunition and semiconductors, is classified by many countries as a critical mineral.
Masan High-Tech Materials currently trades on Vietnam's Unlisted Public Company Market and is expected to meet requirements to list on the Ho Chi Minh City bourse in 2026. It will complete the transition by the first or second quarter of 2027, its chairperson Danny Le has said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation



















