Masan High-Tech Materials eyes 2027 listing, optimistic on tungsten

About this update from Masan High-tech Materials Corp.

Vietnam's leading tungsten supplier Masan High-Tech Materials (MRS.HNO) is seeking to list on the Ho Chi Minh Stock Exchange in 2027 to tap broader funding for its mining operations, its chairperson said on Thursday.The $2 billion company and supplier to firms such as Honeywell NASDAQ:HON and Mitsubishi TSE:8058, is betting on rising tungsten prices following dominant supplier China's restrictions on exports since February last year. China produced 83% of global output in 2024.Masan High-Tech Materials currently trades on Vietnam's Unlisted Public Company Market and is expected to meet requirements to list on Ho Chi Minh City bourse in 2026. It will complete the transition by the first or second quarter of 2027, its chair Danny Le told an annual meeting.It will prioritise paying off debt and aims to achieve a clean financial position by 2027-2028, with plans to begin paying dividends thereafter, Le added.Masan High-Tech Materials owns the Nui Phao mine, one of the largest outside China. It produces almost all the roughly 3,400 metric tons estimated to be extracted annually from Vietnam, which in 2024 was the world's second-biggest tungsten producer after China, according to the U.S. Geological Survey.The mine's licence to explore over 50 million metric tons of tungsten is valid until early 2028. The firm, a unit of Masan Group HOSE:MSN, has been granted a mining licence for an additional 28 million tons, its CEO Michael Glover said.Tungsten is an extremely hard metal often classified as critical for its applications in defence and electronics industries, including for ammunition and semiconductors.The company aims to achieve a profit this year of between 1.7 trillion dong ($64.65 million) and 2.5 trillion dong ($95.08 million).Shares of Masan High-Tech Materials have risen 87% year-to-date.($1 = 26,295.0000 dong)

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