Mr. To Nhu Thang has successfully sold 3.3 million VPI shares. Illustrative image.
Mr. To Nhu Thang, Vice Chairman of the Board of Directors of Van Phu – Invest Joint Stock Company (Ticker: VPI), sold 3.3 million VPI shares as registered from June 27 to July 4.
Following the transaction, Mr. Thang’s ownership in VPI decreased from 4.38% to 3.013%, equivalent to nearly 7.3 million shares.
Based on the closing price of VPI shares on July 4 at VND 61,400 per share, Mr. Thang could have earned over VND 200 billion from this deal.
It is known that Mr. To Nhu Thang is the younger brother of Mr. To Nhu Toan, Chairman of the Board of Directors of Van Phu Invest.
Last March, Mr. Thang also sold 3.5 million VPI shares, thereby reducing his ownership from 5.82% to 4.38%. Previously, in late 2023, Mr. Thang successfully sold 3 million VPI shares, reducing his ownership from 7.06% to 5.82%.
Mr. Thang’s move came ahead of VPI’s 2023 dividend payment in shares. Specifically, the record date is July 26, 2024.
In this dividend payment, VPI will implement a ratio of 10:2 (on the record date, shareholders owning 10 shares will receive 2 newly issued shares). With this ratio, VPI is expected to issue an additional 48.4 million shares. Accordingly, the total number of outstanding shares of VPI will increase from nearly 242 million shares to over 290 million shares, equivalent to a charter capital of nearly VND 2,904 billion.
In terms of business results, in the first quarter of 2024, Van Phu Invest recorded revenue of VND 126.5 billion and after-tax profit of nearly VND 70 billion, respectively decreasing by 86% and 77% over the same period last year.
The company said that in the first quarter of 2024, it started to hand over some products of a potential real estate project in Bac Giang province, while other projects are in the implementation phase and are expected to be handed over in the following quarters. Therefore, after-tax profit in the first quarter of 2024 decreased significantly compared to the same period.
