FPT Telecom Targets Capital Expansion to 8.496 Billion VND with Massive Bonus Share Issue and Robust 2025 Dividend Payout

FPT Telecom Joint Stock Company (operating under the stock code FOX on the Unlisted Public Company Market, UPCoM) has officially released a comprehensive corporate action blueprint aimed at scaling up its charter capital through a large-scale stock dividend distribution. The strategic initiative underlines the telecommunications giant’s robust financial health, continuous operational expansion, and ongoing commitment to maximizing shareholder value. Under the newly announced plan, the company intends to issue nearly 111 million bonus shares to existing shareholders, a move that will elevate its total charter capital from approximately 7.388 billion VND to nearly 8.496 billion VND.

This corporate maneuver arrives on the heels of an impressive financial performance trajectory through the first three quarters of 2026. By strategically combining a substantial stock dividend with a lucrative cash dividend payout, FPT Telecom is signaling confidence to the broader financial market. The twin distributions reflect strong underlying cash flows, prudent reserve management, and solid top-and-bottom-line growth amid an increasingly competitive digital infrastructure and broadband landscape in Vietnam.

Mechanics of the Bonus Share Issuance and Capital Restructuring

According to the disclosures submitted by FPT Telecom, the enterprise plans to distribute approximately 111 million new common shares funded directly from its internal owner’s equity reserves. The transaction will be executed at a strict implementation ratio of 100:15. This means that shareholders listed on the official registry holding 100 existing shares will receive 15 new, fully paid-up shares without incurring any out-of-pocket acquisition costs.

To maintain administrative efficiency and procedural compliance, fractional shares resulting from the mathematical calculation will be rounded down to the nearest whole unit. Any remaining fractional entitlements that cannot be allocated whole will be completely canceled by the company.

Based on the par value of the shares, the total issuance value is estimated at a substantial 1.108 billion VND. The capital sources supporting this expansion are derived from undistributed post-tax profits and development investment funds, as clearly documented in the company’s separate financial statements for the fiscal year 2025.

The critical benchmark date for establishing shareholder eligibility—commonly referred to as the record date for closing the list of rights recipients—has been scheduled for December 10, 2026. Upon the successful finalization of this administrative and regulatory process, FPT Telecom’s charter capital will experience a significant leap, bolstering its balance sheet equity and expanding its capitalization base to nearly 8.496 billion VND. Market analysts note that such capital increases enhance liquidity, broaden institutional participation, and strengthen the company’s borrowing capacity for upcoming infrastructure deployments.

Comprehensive Cash Dividend Payout Runs Concurrently

In addition to the equity-based capital expansion, FPT Telecom’s board of directors has announced a substantial cash dividend distribution for the 2025 fiscal year. Scheduled to run concurrently with the record date for the bonus share issue on December 10, 2026, the company will finalize the roster of shareholders entitled to receive a 20% cash dividend. This equates to a payout of 2,000 VND for every single ordinary share owned. The official cash distribution is slated for disbursement to eligible investors on December 29, 2026.

With nearly 739 million FOX shares currently in circulation across the public market, FPT Telecom is preparing to disburse approximately 1.478 billion VND in cash to reward its investor base. This dual-action approach—issuing both equity and cash simultaneously—demonstrates a balanced corporate finance strategy that rewards immediate income-seeking investors while simultaneously reinvesting core earnings into long-term equity expansion.

An analysis of the company’s ownership structure highlights the principal beneficiaries of this dual corporate reward. As of September 30, 2026, the State Capital Investment Corporation (SCIC) stands as the single largest institutional shareholder in FPT Telecom, maintaining a commanding 50.17% stake in the charter capital. Based on the upcoming cash dividend schedule, SCIC is projected to receive approximately 741 billion VND in cash returns.

Concurrently, FPT Corporation—the parent conglomerate operating under the stock code FPT—holds nearly 337.3 million FOX shares, representing a 45.66% ownership stake. FPT Corporation is anticipated to collect roughly 675 billion VND from the cash dividend distribution. Combined, these two major institutional pillars control the vast majority of FPT Telecom’s equity, ensuring a stable strategic vision and unified governance framework as the enterprise embarks on its next phase of growth.

Financial Performance and Nine-Month Earnings Momentum

The capacity to distribute substantial cash dividends and issue bonus shares is underpinned by FPT Telecom’s stellar financial health throughout the 2026 fiscal year. Financial disclosures for the third quarter of 2026 reveal that the company generated net revenue of nearly 5.916 billion VND, representing a robust 20% increase compared to the corresponding period in the previous year. Net profit after tax followed a similar upward trajectory, touching nearly 1.023 billion VND—a healthy 13% year-on-year expansion.

When examining the cumulative performance over the first nine months of 2026, the financial picture becomes even more pronounced. FPT Telecom reported accumulated net revenue of nearly 16.691 billion VND, marking a 17% acceleration compared to the first nine months of 2025. Pre-tax and post-tax profits reached approximately 3.674 billion VND and 2.934 billion VND respectively, both reflecting a consistent 14% growth rate.

For the full year of 2026, FPT Telecom has set ambitious performance targets, aiming for total revenue of 22.000 billion VND and a pre-tax profit of 5.100 billion VND. A comparative evaluation indicates that by the conclusion of the third quarter, the enterprise has successfully fulfilled approximately 72% of its full-year profit target. Market observers point out that with traditional peak periods for telecommunications, data centers, and digital services typically concentrated in the fourth quarter, FPT Telecom is well-positioned to meet or potentially exceed its annual guidance.

Market Valuation and Broader Industry Context

On the Vietnamese securities market, FOX shares have demonstrated considerable resilience and investor appeal. Closing the trading session on November 9, 2026, FOX was valued at 53,700 VND per share, placing the company’s total market capitalization at approximately 39.672 billion VND. The stock continues to attract attention from both retail and institutional investors drawn to the telecommunications sector’s defensive characteristics, consistent dividend yield, and aggressive expansion into cloud computing, data center infrastructure, and high-speed broadband services.

The announcement of FPT Telecom’s capital adjustments coincides with broader macroeconomic discussions across the domestic financial ecosystem. Industry stakeholders are increasingly turning their attention toward major upcoming analytical gatherings, such as the Vietnam Investment Forum 2027 (VIF 2027), scheduled to take place on November 12, 2026, at the Shilla Monogram Hanoi Westlake. As institutional investors evaluate asset allocation strategies for the upcoming year, corporate actions like those undertaken by FPT Telecom serve as key barometers of corporate vitality and shareholder alignment within Vietnam’s large-cap equity universe.

Strategic Implications and Future Outlook

The decision by FPT Telecom to increase its charter capital via a 15% stock dividend, while simultaneously executing a significant cash payout, carries several strategic implications for the company’s future trajectory.

First, the expansion of charter capital through retained earnings rather than external debt issuance demonstrates financial self-sufficiency. By converting accumulated profits into permanent capital, the firm strengthens its balance sheet metrics, providing a broader equity buffer to support capital-intensive projects. In the telecommunications and technology sectors, continuous capital expenditure is mandatory to maintain competitive advantages—particularly in upgrading fiber-optic networks, expanding hyperscale data centers, and deploying advanced 5G-related infrastructure or enterprise cloud solutions.

Second, the combination of a high-value cash dividend and a stock dividend satisfies divergent investor preferences. Income-oriented investors secure immediate liquidity through the 2,000 VND per share cash payout, whereas growth-oriented investors benefit from an increased share count, enhancing their long-term equity stake in a market-leading enterprise. This dual-reward mechanism historically tends to stabilize share price volatility by encouraging long-term holding rather than short-term speculative trading.

Finally, the strong backing of major shareholders such as SCIC and FPT Corporation reinforces market confidence in FPT Telecom’s corporate governance and strategic roadmap. With consecutive quarters of double-digit revenue and profit growth, the company has consistently proven its ability to navigate competitive pressures, inflationary headwinds, and shifting consumer demands. As FPT Telecom marches toward the final quarter of 2026 with over 72% of its profit targets already secured, the upcoming capital expansion sets a solid foundation for sustainable, long-term value creation in Vietnam’s evolving digital economy.