Mr. Nguyen Ngoc Quang, Member of the Board of Directors of Hoa Phat Group Joint Stock Company (code HPG) has recently registered to sell 1 million HPG shares for personal financial purposes. The transaction is expected to take place from March 11th to April 9th, through the matching method on the exchange.
This move by Mr. Quang comes at a time when HPG shares are at a 22-month high. Compared to the beginning of 2024, this stock has increased by more than 11%. Based on the current market price of VND 31,150 per share, Mr. Quang could earn more than VND 31 billion from this deal.
If successful, Mr. Quang’s ownership in Hoa Phat will decrease from 103.79 million shares (1.78% stake) to 102.79 million shares (1.77% stake). It is estimated that the value of these personal shares in hand is up to VND 3,200 billion.
In another development, Hoa Phat has recently invited investors to visit the Dung Quat Steel Complex of Hoa Phat in 3 days from March 26th to 28th. 1 week after the invitation was sent, there were more than 800 investors registered to participate in the program, including representatives from securities companies, investment funds, and individual investors.
According to Hoa Phat’s invitation, investors only need to cover the cost of air tickets and personal expenses, while Hoa Phat will cover the cost of transportation at Da Nang/Chu Lai airport, 1 night stay at The Harmonia Hotel, and lunch at The Harmonia Hotel.
About 2 weeks after this event, Hoa Phat is planning to hold its Annual General Meeting of Shareholders 2024. According to the plan, the meeting will take place on the morning of April 11th at the 5-star Melia Hanoi Hotel (Hanoi). The last registration date to finalize the shareholder list is March 11th, 2024.
Regarding the business results of the fourth quarter of 2023, Hoa Phat recorded net revenue of VND 34,400 billion, an increase of 33% compared to the same period and net profit of VND 2,970 billion, an increase of 48% compared to the previous quarter, and the highest level in the past 6 quarters.
For the whole year 2023, Hoa Phat achieved net revenue of VND 120,355 billion, a decrease of 16% compared to the same period last year. After-tax profit reached VND 6,800 billion, a decrease of 19.5% compared to the previous year, and achieved 85% of the annual plan set forth.
