ROX Living faces a 2.9 billion VND fine for “illegally selling” MSB shares

ROX Living secretly sold nearly 10 million shares of MSB Bank since August 2022 without prior disclosure.

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  • ROX Living – an organization related to Mr. Tran Xuan Quang, Member of MSB Bank’s Board of Directors – has sold 9.7 million bank shares without reporting the transaction in advance.

  • The transaction was conducted starting from August 2022 through a negotiated agreement, thus not directly affecting the market price of MSB.

  • The trading volume accounted for 0.6% of the total number of MSB shares in circulation at that time.

The State Securities Commission has just issued a fine of over 2.9 billion VND to ROX Living Joint Stock Company – formerly known as TNG Realty (which changed its name at the end of January 2024).

According to this organization, ROX Living did not disclose information prior to selling 9.7 million MSB shares of Maritime Bank – an organization related to Mr. Tran Xuan Quang, an independent member of MSB’s Board of Directors.

According to regulations, organizations buying/selling shares of a company related to its leaders must disclose information before the transaction – similar to when company leaders and their relatives buy/sell shares.



The sale of MSB shares by ROX Living was a negotiated transaction, conducted over two sessions in August 2022. As a negotiated transaction, this buying and selling generally does not directly affect the price of MSB shares on the market. During that period, MSB traded around 14,000 VND per share – equivalent to the current price of the Bank. Based on this price, ROX Living’s negotiated transaction had a value of about 136 billion VND.

ROX Living’s trading volume during that time accounted for 0.6% of the total number of MSB shares in circulation (nearly 1.6 billion units).

TNG Holdings recently changed its corporate brand name to ROX Group after 28 years of formation and development. Along with the introduction of the ROX Group brand, the corporation has also deployed a new brand strategy for its member units, with TNG Realty being renamed ROX Living; TNCons Vietnam becoming ROX Cons Vietnam; TNG Asset being renamed ROX Asset; TNG Capital being renamed ROX Capital…

Ms. Nguyen Thi Nguyet Huong, Chairwoman of ROX Group, is the wife of Mr. Tran Anh Tuan, Chairman of MSB. Ms. Huong does not directly own any shares of MSB.

SOURCEcafef
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