# Masan Group Sells 5% of Masan High-Tech Materials to Elmet Ahead of Listing

> Masan Group sold a 5% stake in Masan High-Tech Materials to The Elmet Group as the tungsten producer prepares a listing and a 5% private placement.

- Published: 2026-10-22T11:51:35+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-22/masan-high-tech-materials-elmet-stake-sale
- Source: [DealStreetAsia](https://www.dealstreetasia.com/stories/sea-digest-masan-profit-cimb-denial-498873)

## Key takeaways

- Masan Group reported a net profit of 10.3 trillion dong ($399 million) in the first nine months of 2026, exceeding its target.
- Masan Group sold a 5% stake in Masan High-Tech Materials to US-based tungsten alloys supplier The Elmet Group.
- Masan High-Tech Materials is preparing to move its listing from Vietnam's UPCoM market to the Ho Chi Minh City Stock Exchange by Q1 2027.

Masan Group sold a 5% stake in [Masan High-Tech Materials](https://akta.pro/company-profiles/002xw27/masan-high-tech-materials) to US-based tungsten alloys supplier [The Elmet Group](https://akta.pro/company-profiles/022qup3/the-elmet-group), part of the subsidiary's strategic shareholder programme ahead of a planned public listing, [DealStreetAsia](https://www.dealstreetasia.com/stories/sea-digest-masan-profit-cimb-denial-498873) reported. Masan Group also reported a net profit of 10.3 trillion dong ($399 million) in the first nine months of 2026, exceeding its target for the period.

## Masan Group's Profit and Stake Sales

Masan Group's net profit for the first nine months of 2026 was 1.5 times higher than its full-year profit in 2025. Net revenue in the first nine months of this year reached 89.1 trillion dong, up 52.7% year-on-year. Masan's operations include consumer goods, retail, natural materials and financial services.

"With its investment-heavy phase complete and all subsidiaries now self-funded, the group is turning its focus to attracting the right long-term shareholder base and partners at Masan Consumer Holdings and Masan High-Tech Materials, simplifying its shareholding structure, paying down holdco debt and, over the medium term, returning capital to Masan shareholders," the firm said in its earnings disclosure.

Earlier in October, Masan planned to raise its stake in Masan Consumer to 74.9% from 69.4%. The group raised its 2026 earnings outlook after posting record second-quarter NPAT Pre-MI of 3,800 billion dong, up more than 2.3 times year-on-year, with full-year NPAT Pre-MI now expected to reach 11,500 billion dong ($440 million), DealStreetAsia reported in July.

## Masan High-Tech Materials' Funding and Listing Plans

Masan High-Tech Materials is a Vietnam-based, publicly listed integrated producer of critical minerals including tungsten, fluorspar, bismuth and copper, operating the world's largest tungsten mine outside China at Nui Phao, according to [akta.pro company records](https://akta.pro/company-data). The company is preparing to move its listing from Vietnam's UPCoM market to the Ho Chi Minh City Stock Exchange by Q1 2027, including a 2% free-float stake placement executed in May 2026 to meet HOSE eligibility, the same records show. Its funding records list a September 2026 post-IPO equity round of $124.8 million led by The Elmet Group.

## Masan High-Tech Materials' Tungsten Expansion

In October 2026, Masan High-Tech Materials sought shareholder approval for a private placement of up to 5% of its shares to fund mine expansion and downstream processing, Reuters reported. In September 2026, the company was expanding its tungsten value chain beyond mining, owning the Nui Phao mine and holding processing capacity of about 9,345 tonnes annually, with a partnership with South Korea's GB Innovation, FinancialContent Business Page reported. In July 2026, Masan High-Tech Materials signed a long-term tungsten processing agreement with GB Innovation, aligning with its "Go Global" strategy, AInvest reported.

## Masan High-Tech Materials' Listing Timeline

Masan High-Tech Materials is preparing to migrate its listing from Vietnam's UPCoM market to the Ho Chi Minh City Stock Exchange by Q1 2027, according to akta.pro company records. The company's planned public listing follows the sale of the 5% stake to The Elmet Group.

## Companies in this story

- [Masan High-Tech Materials company profile](https://akta.pro/company-profiles/002xw27/masan-high-tech-materials) · website: https://masanhightechmaterials.com
- [MASAN Group company profile](https://akta.pro/company-profiles/0003fym/masan-group) · website: https://www.masangroup.com
- [The Elmet Group company profile](https://akta.pro/company-profiles/022qup3/the-elmet-group) · website: https://theelmetgroup.com

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