On March 8, Mr. Nguyen Ha Duc bought an additional 1.8 million shares of GGG, increasing his ownership from nearly 795 thousand shares (2.71%) to over 2.6 million shares (8.85%), making him a major shareholder of GGG.
During this session, there were negotiated transactions with a volume exactly matching the number of shares Mr. Nguyen Ha Duc purchased, worth nearly 4 billion VND, while the matched trading volume was only 23.4 thousand shares with a value of 65 million VND. Therefore, it is highly likely that this individual has acquired the shares through negotiation at a price of about 2,200 VND per share, 21% lower than the closing market price of 2,800 VND per share.
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GGG shares with over 1.8 million negotiated transactions in the session of March 8
Source: VietstockFinance
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Mr. Duc’s buying activity took place in the context of GGG shares being restricted, only traded in the 6th session of each week. It is worth noting that since the beginning of 2024, GGG shares have hit the “ceiling” for 7 sessions and only decreased for 2 sessions, thereby increasing from 1,800 VND per share to 2,800 VND per share, equivalent to over 55%.
| GGG shares have seen a significant increase since the beginning of 2024 |
As of the end of 2023, GGG had a net loss of 15 billion VND and negative equity of 31 billion VND. The poor business performance of the Company has persisted for a long time as it has incurred losses for 13 consecutive years, resulting in negative equity since 2013.
| GGG has had negative equity since 2013 |
Oto Giai Phong has its predecessor as Ha Giang Electro-Mechanical Company, belonging to the Long Giang Group, established in October 2001. It is the investor of the Giai Phong automobile factory with an initial charter capital of 19 billion VND. On October 3, 2008, Ha Giang Electro-Mechanical JSC changed its name to Giai Phong Auto JSC and officially operated and conducted transactions under the new name from November 1, 2008.
The company was listed on the Hanoi Stock Exchange (HNX) with the code GGG in 2009 but was delisted due to consecutive losses and moved to trading on UPCoM since 2014. After several capital increases, as of December 2022, GGG has a charter capital of nearly 294 billion VND.
