Backed by rising revenue and profit, Hoa Phat Agriculture’s IPO offers investors a stake in Vietnam’s livestock future.
Hoa Phat Agriculture Development JSC, a subsidiary of Vietnam’s Hoa Phat Group, has officially submitted its IPO application to the State Securities Commission of Vietnam.
This move marks a significant step for the company, offering new investment opportunities in Vietnam’s fast-growing agribusiness sector.
The IPO is expected to debut on the Ho Chi Minh City Stock Exchange by December 2025. The company said the offering price will not fall below the book value of USD 0.45 per share, based on June 2025 financials.
Hoa Phat Agriculture plans to release up to 30 million shares. Capital raised will be directed toward expanding its pig, poultry, and cattle farms, building feedmills, and strengthening operations.
The company also aims to invest in central and southern Vietnam, enhancing its production scale and supply chain efficiency.
Pig operations
Hoa Phat Agriculture operates one of Vietnam’s largest and most modern closed-cycle pig farming systems. Annual capacity exceeds 600,000 heads, with a target of 750,000 commercial pigs by 2025.
These modern farms reflect the company’s commitment to food safety, traceability, and sustainable livestock practices.
The company source its pig genetics from Denmark to ensure high-quality breeding stock. Pigs are raised under strict biosecurity protocols, supported by European-standard feed systems.
Meanwhile, Hoa Phat Agriculture’s nutrition program excludes banned substances and antibiotic residues, ensuring clean, safe meat for consumers.
Its feed business ranks among Vietnam’s top 13 producers. It aims to reach 1 million tons of feed annually, with swine nutrition as a key focus.
This integrated model supports consistent growth, animal health, and production efficiency across its pig operations.
Expanding profits, steady growth
Hoa Phat Agriculture has become the second-largest contributor to Hoa Phat Group, following its steel division.
Over the past 10 years, Hoa Phat Agriculture has established a leading position in Vietnam’s agriculture industry with a nationwide network of farms and factories. Its mission is to modernize food production and ensure food safety for Vietnamese consumers.
In 2024, Hoa Phat Agriculture posted revenue of USD 268.6 million, a 12.2% increase from the previous year. In H1 2025, revenue reached USD 164 million, already 61% of the full-year 2024 figure.
Gross profit rose from USD 21 million in 2023 to USD 55.4 million in 2024. By mid-2025, it reached USD 45.7 million—83% of the full-year 2024 figure.
Net profit for the first half was USD 35.6 million, more than double the same period in 2024. Full-year net profit is projected at USD 60.6 million, with earnings per share around USD 0.24.
Subscribe now to the technical pig magazine
AUTHORS
Bifet Gracia Farm & Nedap – Automated feeding in swine nurseries
The importance of Water on pig farms
Fernando Laguna Arán
Microbiota & Intestinal Barrier Integrity – Keys to Piglet Health
Alberto Morillo Alujas
Impact of Reducing Antibiotic use, the Dutch experience
Ron Bergevoet
The keys to successful Lactation in hyperprolific sows
Mercedes Sebastián Lafuente
Addressing the challenge of Management in Transition
Víctor Fernández Segundo
Dealing with the rise of Swine Dysentery
Roberto M. C. Guedes
Actinobacillus pleuropneumoniae – What are we dealing with?
Marcelo Gottschalk
The new era of Animal Welfare in Pig Production – Are we ready?
Antonio Velarde
Gut health in piglets – What can we do to measure and improve it?
Alberto Morillo Alujas
Interview with Cristina Massot – Animal Health in Europe after April 2021
Cristina Massot
Differential diagnosis of respiratory processes in pigs
Desirée Martín Jurado Gema Chacón Pérez
