30-year-old garment company raises hundreds of billions through shares, pivots to beauty services

Royal Healthtech TTG is seeking to reinvent itself, moving from its roots as a garment maker into beauty services and spas. The company, originally established as Thanh Tri Garment Enterprise in 1993, changed its name to Royal Healthtech TTG in mid-2026.

At an extraordinary shareholder meeting in Hanoi on September 4, shareholders approved a private placement of 5.5 million shares to 12 professional securities investors. TTG set the proposed price at VND30,000 per share, about 30% above its current market price of roughly VND23,000. The sale could raise VND165 billion.

The new shares would equal 161.76% of TTG’s outstanding stock. The company currently has charter capital of VND34 billion, representing 3.4 million shares. If the offering succeeds, charter capital would rise to VND89 billion, or about 2.6 times its current level. The shares would be restricted from transfer for one year, except in transfers between professional securities investors or where permitted by law.

TTG plans to use VND58.8 billion to acquire three properties for investment and business activities. The remaining VND106.2 billion would fund facilities, equipment and other requirements for beauty and spa businesses. The three properties would be transferred by Pham Quang Bang, the older brother of TTG Chairwoman Pham Thi Huy. They include two land-use rights in Moc Chau, Son La, valued at up to VND10.1 billion and VND8.7 billion, and a roughly 535-square-meter commercial-service floor at Green Diamond building in Hanoi, valued at up to VND40 billion.

The offering would also reshape ownership. Huy currently owns 800,000 shares, or 23.53% of voting shares, and is listed among the investors expected to buy an additional 2.315 million shares. The offering is expected to take place between the fourth quarter of 2026 and the first quarter of 2027, after the State Securities Commission confirms receipt of the registration documents.