In order to restructure its assets, HNT Corporation has sold 3.45 million shares of FOX as registered from 31/01-21/02/2024. After the transaction, the organization’s ownership in FPT Telecom decreased from 5.45 million shares (1.11% ratio) to 2 million shares (0.41% ratio).
From 31/01-21/02, the market recorded 2.88 million shares of FOX traded by agreement, with a total value of about 135 billion VND, equivalent to an average price of 46,800 VND/share, which is 23% lower than the average closing price during that period (61,000 VND/share).
Based on the average closing price, it is estimated that HNT can earn a maximum of 210 billion VND after divesting its capital in FOX.
Ms. Chu Thi Thanh Ha – Member of the Board of Directors of FOX
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In terms of the relationship, HNT is an organization related to Ms. Chu Thi Thanh Ha – Member of the Board of Directors of FPT Telecom, who currently owns a portion of the capital in HNT. Meanwhile, Ms. Ha also holds 93,906 shares of FOX, equivalent to 0.02% of the capital.
From 30/01-28/02, Ms. Ha registered to buy more than 3.4 million shares of FOX for asset restructuring and personal needs. If successful, she will increase her ownership to exactly 3.5 million shares, equivalent to 0.75% of the capital. There is no report on the results of this transaction yet.
The reverse trading actions of the two shareholders took place in the context of the FOX stock price moving sideways at historical high levels. On the morning of 26/02, the FOX stock price stood at the reference level of 61,500 VND/share, an increase of nearly 19% compared to the beginning of the year. FPT Telecom’s market capitalization exceeded 30,000 billion VND (~ 1.2 billion USD).
| FOX stock price since the beginning of the year |
At the end of 2023, FOX’s business performance showed many positive signs, with revenue of over 15.8 trillion VND and pre-tax profit of over 3 trillion VND, increasing by 7% and 8% respectively compared to the previous year. These are all record high levels for the company.
On March 29th, FPT Telecom will advance its 2023 dividend payment in cash at a rate of 20% (2,000 VND/share), according to the record date on February 29th, 2024. With over 492.5 million outstanding shares, it is estimated that FOX will need to spend over 985 billion VND for this dividend payment.
