Le Dinh Duong (age 21), Chairman of the Board of Directors of Hoa Binh Securities Joint Stock Company (Stock code: HBS), has registered to purchase over 1.5 million HBS shares to increase his ownership stake. The transaction is set to take place between July 15 and August 13.
Currently, Mr. Duong holds more than 5 million HBS shares, equivalent to 15.15% of the charter capital of Hoa Binh Securities. If the transaction is successful, his ownership stake will increase to 19.71% of HBS’s charter capital.
As of the trading session on July 12, HBS shares were priced at 10,100 VND each. Based on this price, the amount of money Mr. Duong will spend is estimated to be around VND 15 billion.
Hoa Binh Securities Joint Stock Company was established in 2007 with a charter capital of over VND 329 billion. In early August 2023, the company’s Board of Directors decided to appoint 20-year-old Le Dinh Duong as Chairman, replacing Trinh Thanh Giang.
Previously, on July 24, 2023, Mr. Giang had submitted his resignation due to personal reasons, citing a lack of time to fulfill the role of Chairman effectively. Mr. Giang was elected to the Board of Directors at the 2023 Annual General Meeting and subsequently appointed as Chairman for the term 2023-2028.
The Chairman of Hoa Binh Securities Joint Stock Company aims to increase his ownership in HBS.
At the 2023 Annual General Meeting, in addition to Mr. Giang, four other individuals were elected to the Board of Directors: Le Dinh Duong, Le Xuan Tung, Nguyen Anh Duc, and Le Tien Dung. Mr. Duong was then appointed as Vice Chairman of the Board of Directors and has now been promoted to Chairman.
Notably, Mr. Duong is 21 years old, and Mr. Tung is 29 years old. They are both sons of former Chairman Nguyen Thi Loan, who was arrested by Hanoi police in November 2021 for violating regulations on auction activities. At that time, she was also the Chairman of the Board of Directors of Y Duoc Vimedimex Joint Stock Company (Stock code: VMD).
In the first quarter of this year, Hoa Binh Securities reported revenue of nearly VND 9.2 billion, a surge of 188% compared to the same period last year. However, financial revenue decreased from over VND 6 billion to just under VND 19 million. After deducting expenses, the company recorded a post-tax profit of over VND 4.6 billion.
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