According to the Ho Chi Minh City Stock Exchange (HoSE), Mr. Tran Thien Ha, CEO and Member of the Board of Directors of APG Securities (code: APG), has registered to sell over 673,000 APG shares for personal purposes. The expected transaction period is from August 21 to September 19, 2024, through order matching and agreement. If the transaction is successful, Mr. Tran Thien Ha will reduce his ownership from 0.45% to 0.15% of the company’s capital.
In the market, APG’s share price is recovering from a one-year short-term bottom. The stock is currently trading at VND 12,300 per share, up more than 18% after two weeks. Based on this price, it is estimated that Mr. Ha could earn more than VND 8 billion after completing the transaction.
In a recent development, the 2024 Annual General Meeting of APG approved the 2024 business plan with an operating revenue target of VND 390 billion and a pre-tax profit of VND 239 billion, up 48% and 43%, respectively, compared to the previous year’s performance.
This is an ambitious plan, considering that in the first half of 2024, APG’s operating revenue reached only VND 95 billion, and pre-tax profit was VND 62 billion, down 49% and 54%, respectively, compared to the same period last year. In comparison to the annual plan, APG has achieved only 24% of the revenue target and 26% of the profit target in the first half.
Given the lackluster business performance, APG has approved several large issuance plans for this year. Firstly, APG proposes to issue over 20 million shares as a 2023 dividend payout, with a ratio of 9%, to increase capital from VND 2,236 billion to VND 2,437 billion.
Additionally, APG Securities plans to offer nearly 224 million shares to existing shareholders at a ratio of 1:1 (one share holds one right, and one right buys one new share) at a price of VND 10,000 per share. The expected proceeds from this offering exceed VND 2,236 billion, which will be used to supplement capital for proprietary trading (70%), investment in securities (20%), and brokerage activities (10%).
Furthermore, APG also intends to issue over 11 million ESOP shares at a proposed price of VND 10,000 per share. Lastly, APG plans to offer a maximum of 100 million shares at VND 12,000 per share to fewer than 100 professional securities investors.
If all issuance and offering plans are completed, APG’s charter capital is expected to increase to nearly VND 5,800 billion.
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