Golden Gate Corporation, which operates popular brands such as The Coffee House, Hutong, and Kichi-Kichi, has recently been informed that it will no longer hold the status of a public company. This announcement was made by the State Securities Commission of Vietnam on July 31, 2026.

The company will continue to operate as a joint stock company rather than a public company, following legal regulations. This change in status is a legal adjustment stemming from the company’s failure to complete the necessary registration procedures for securities with the Vietnam Securities Depository and Clearing Corporation (VSDC) and to register for stock trading as previously planned.

Despite this change, Golden Gate has assured stakeholders that it will not impact its business operations, financial capacity, management quality, or development strategy. The company remains committed to fulfilling its obligations regarding information disclosure and other responsibilities as a public entity under the law.

In preparation for its initial public offering (IPO) and listing on the Ho Chi Minh City Stock Exchange (HOSE), Golden Gate has not yet implemented the required registration processes. This decision aligns with the leadership's strategy to refine its IPO plan, aiming to choose the optimal timing to maximize corporate value and provide long-term benefits to shareholders.

Golden Gate has identified participation in the capital market as a long-term strategic direction. The company prioritizes building a sustainable growth foundation, enhancing operational efficiency, and improving governance standards before pursuing an IPO.

The decision to revoke its public company status does not alter Golden Gate's long-term IPO plans. When market conditions and the company's development plans are suitable, Golden Gate will proceed with the necessary steps to participate in the capital market.

According to the resolutions from the annual general meeting of shareholders in 2026, Golden Gate aims for a net revenue of 9.814 trillion VND, representing a nearly 28% increase from 2025, with a post-tax profit of 466 billion VND, equivalent to a 118% growth rate. The corporation also plans to distribute cash dividends at a rate of 82% of the par value, corresponding to 8,200 VND per share. Additionally, Golden Gate has plans to issue stock dividends from undistributed profits at a ratio of 1:12, meaning shareholders will receive 12 new shares for every share they own. Furthermore, the company will launch an employee stock ownership plan (ESOP) at a set price of 10,000 VND per share, targeting key personnel who meet performance standards and ethical business practices.