A mineral processing plant operated by Masan High-Tech Materials at the Nui Phao mine in Thai Nguyen Province, northern Vietnam. Photo: Supplied
Masan High-Tech Materials said on Thursday that the 4.99-percent stake is currently held by a subsidiary of Masan Group.
Following the transaction, Masan Group is expected to retain about 87.46 percent of Masan High-Tech Materials and remain the company’s controlling shareholder.
The deal is subject to necessary conditions, including regulatory and corporate approvals.
The two sides aim to complete the transaction in the first half of October.
Alongside the equity investment, Masan High-Tech Materials and Elmet have signed long-term tungsten supply agreements.
Under the agreements, Masan High-Tech Materials will supply tungsten products and processing services to Elmet over an initial cooperation period of more than eight years.
The committed volume is around 1,250 metric tons of tungsten trioxide (WO₃) equivalent per year.
Based on current tungsten prices, Masan High-Tech Materials is expected to generate approximately $1.5 billion in total gross revenue over the cooperation period.
The two sides also plan to work together to develop additional sources of tungsten concentrate from international partner mines for processing in Vietnam.
Elmet is engaged in the production of tungsten, as well as materials and components for industrial applications.
It completed its initial public offering in early 2026 and is now traded on the Nasdaq Capital Market under the ticker ELMT.
Danny Le, chairman of Masan High-Tech Materials, said many technology sectors, including artificial intelligence, semiconductors, and aerospace, are in high demand for tungsten.
He said Elmet had worked with Masan High-Tech Materials in the supply chain for more than 12 years and had a deep understanding of the company’s operations.
He said Elmet’s becoming a shareholder marked the beginning of deeper cooperation between the two sides.
Masan Group said the proceeds from the stake sale would help strengthen its resources and provide greater flexibility in capital allocation.
Masan High-Tech Materials also said the long-term supply agreements would provide a basis for the company to establish a regular dividend policy.
The company will continue pursuing its capital market plans, including the transfer of its stock listing from the Unlisted Public Company Market to the Ho Chi Minh Stock Exchange.
Masan High-Tech Materials posted VND11.131 trillion ($425 million) in net revenue in the first six months of 2026, 3.7 times that of a year earlier, according to the company's reviewed consolidated financial statements for the first half of 2026.
Its net profit reached VND2.202 trillion ($84 million), compared with a loss of VND216 billion ($8.3 million) in the same period last year.
As of June 30, its total assets stood at nearly VND36.889 trillion ($1.41 billion), up nearly 40 percent from the beginning of the year.
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