Rạng Đông Holding Chairman Ho Duc Lam intends to sell 1 million RDP shares. Illustration.
Rạng Đông Holding Joint Stock Company (RDP: HNX) has recently announced the trading of its internal stocks.
Specifically, Mr. Ho Duc Lam, Chairman of the Board of Rạng Đông Holding, has registered to sell 1 million RDP shares from May 29 to June 27 to restructure his investment portfolio.
If the transaction is successful, Mr. Ho Duc Lam’s ownership in Rạng Đông Holding will decrease from 28.33% to 26.29% (equivalent to 12.9 million shares).
Previously, from April 25 to May 8, Mr. Lam successfully sold 3.2 million RDP shares as registered. From January 8 to 30, he also offloaded 5 million RDP shares.
RDP shares are currently under warning status. The company has proposed measures and a roadmap to rectify this situation, as outlined in their latest document. These measures include market expansion to increase revenue, especially in the packaging, synthetic leather, and film sectors; increasing the export market share of medical and synthetic leather products; improving productivity and reducing production costs; and reducing operating costs to find strategic investors for collaboration.
With these measures in place, RDP is optimistic about resolving its negative post-tax profit distribution status (accumulated loss) by December 31, 2025.
In terms of business results for the first quarter of 2024, the company’s consolidated net revenue reached VND 506 billion, a 12% decrease compared to the same period last year. However, net profit surged to VND 1.1 billion, more than four times the figure from the previous year. As of the end of the first quarter of 2024, RDP still had accumulated losses of nearly VND 205 billion.
On May 24, RDP shares closed at VND 5,160 per share.
