A major shift in State ownership has put FPT Telecom (HOSE: FOX) on course for a decisive extraordinary general meeting next month, as the company prepares for new oversight under the Ministry of Public Security.

 

FPT Telecom will convene the meeting on December 24, with the shareholder list to be finalised on December 1. The agenda has yet to be released.

 

The move follows the State Capital Investment Corporation’s (SCIC) registration to transfer nearly 370.7 million FOX shares — equivalent to 50.17 per cent of the company’s capital — to the Ministry of Public Security.

 

An SCIC representative said the transfer of the right to represent the State’s capital at FOX was part of a strategic policy to safeguard data security and national digital sovereignty in the new era. It believed the ministry would continue to promote its potential and create more favourable conditions for FPT Telecom to expand its operations, noting the company’s important role in developing digital government, digital society and national data platforms.

 

In the third quarter of 2025, FOX’s net revenue reached nearly VNĐ4.93 trillion (US$187.4 million), an 8 per cent increase year-on-year. Pre-tax profit rose by nearly 25 per cent to VNĐ1.13 trillion. According to the company, the improved performance stemmed from enhanced transmission quality and customer services, optimised financial operations and cost reductions.

 

For the first nine months of 2025, net revenue totalled nearly VNĐ14.29 trillion, up 12 per cent from a year earlier. Pre-tax profit reached VNĐ3.23 trillion, up 21 per cent, fulfilling 77 per cent of the annual pre-tax profit target.

 

On the stock market, FOX closed last week at VNĐ61,000 per share. — BIZHUB/VNS