Daughter of Bui Duc wants to sell millions of HAG shares as stocks reach 2-year high.

Just over a week ago, Mrs. Hoang Anh purchased 1 million shares of HAG, which is estimated to cost around 14 billion VND.

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Mrs. Doan Hoang Anh has recently registered to sell 2 million shares of HAGL Joint Stock Company’s (HAGL) HAG shares through a matched order on the exchange to handle personal finances. The trading period is expected to be from February 5th to March 4th, 2024.

Prior to the transaction, Mrs. Hoang Anh held 11 million HAG shares, equivalent to a 1.19% stake in the company. Mrs. Hoang Anh is the daughter of Mr. Doan Nguyen Duc (Mr. Duc), Chairman of HAGL Board of Directors. Based on the current market price, Mr. Duc’s daughter could earn over 28 billion VND if the entire transaction is completed.

Just over a week ago, Mrs. Hoang Anh bought 1 million HAG shares, estimated to have spent about 14 billion VND in the trading session on January 19th. Since the completion of Mrs. Hoang Anh’s purchase transaction, HAG shares have increased nearly 4%, closing the session on January 31st at 14,200 VND/share. This also marks a 2-year high for the stock price.

Regarding HAGL, the company has recently announced relatively impressive business results for 2023. For the entire year, HAGL recorded net revenue of 6,962 billion VND, an increase of 36%. In addition, the negative financial costs amounted to 996 billion VND, mainly due to negative interest expenses of 952 billion VND. According to HAGL, the company has been exempted from reducing its interest expenses by Export-Import Commercial Joint Stock Bank (Eximbank).

After deducting expenses, Mr. Duc’s company achieved a net profit of 1,817 billion VND for the whole year, a 62% increase, and surpassed the set plan.

Thanks to the sharp increase in profit, Mr. Duc’s company has significantly reduced its accumulated loss to only over 1,633 billion VND as of December 31st, 2023.

SOURCEcafef
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