Tổng Song Hong Corporation (UpCOM: SHG) has recently announced a noteworthy transaction by its major shareholder. Specifically, Ms. Dinh Thi Hanh has sold all of her 6.6 million shares (equivalent to 24.5% of the capital), a transaction carried out on February 16, 2024. Therefore, just 2 weeks after becoming a major shareholder of Song Hong.
It is known that Ms. Dinh Thi Hanh bought the aforementioned share volume and became a major shareholder of SHG on February 2, 2024. On the same day, the market witnessed the transfer of more than 6.6 million SHG shares, exactly the same share volume that Ms. Hanh had purchased. Most likely, this is indeed Ms. Hanh’s transaction, with a transaction value of nearly 28 billion VND (equivalent to a price of 4,200 VND per share). On the selling side on February 16, the market also recorded the transfer of more than 6.6 million shares with a value of nearly 22.5 billion VND (equivalent to a price of 3,400 VND per share).
If this is indeed Ms. Hanh’s transaction, she suffered a loss of approximately 20% in just 2 weeks as a major shareholder.
A similar case is that of Mr. Nguyen Thai Toan – who had just become a major shareholder of SHG on January 19 – and by February 2, Mr. Toan had sold all of his 6.6 million SHG shares as well, after only half a month.
Notably, following Mr. Toan and Ms. Hanh, another individual has followed suit, namely Ms. Nguyen Thi Huong, who recently purchased exactly 6.6 million SHG shares and became a major shareholder on February 16.
The “peculiar” buying and selling activities at SHG are taking place in the context of Mr. La Tuan Hung – a member of the Board of Directors and former CEO of the company – recently being temporarily detained by the Investigation Agency of the Ministry of Public Security for being involved in violations related to bidding at the AIC Company and the Project Management Board of the Bac Ninh Provincial Health Construction Project (on January 8).
By January 10, SHG had issued a press release affirming that the legal violations of Mr. La Tuan Hung are personal and unrelated to his role as the CEO of SHG.
In terms of SHG, at the end of 2023, the Ministry of Construction successfully auctioned more than 13.2 million shares at the matched price of 10,500 VND per share, equal to the starting price. There were 2 investors who bought the entire share volume, including one institution and one individual. Accordingly, the Ministry of Construction earned over 139 billion VND and no longer holds any shares after the transaction.
Song Hong Corporation (registered address at 70 An Duong, Yen Phu Ward, Tay Ho District, Hanoi) was originally the Viet Tri Architecture Company, established in 1958. In 2010, the company converted and operated as a joint stock company under the name of Song Hong Corporation. On April 10, 2015, the company’s shares were officially traded on the UPCoM.
Currently, SHG has a charter capital of 270 billion VND, with its main business areas being civil construction, industrial construction, transportation, irrigation, consulting, general contracting, investment in civil, industrial, transportation construction projects, as well as property leasing.
