Recently, Mr. Phan Ngoc Hieu, a member of the Board of Directors of Construction and Installation Corporation 1 (code: PC1), registered to sell all 15.5 million PC1 shares he holds, equivalent to 5% of the capital. The purpose of his sale is to restructure his investment portfolio. The transaction is expected to be executed from August 30 to September 27 via matching or negotiated orders.
In the market, PC1 shares are currently trading around the 29,000 VND mark. With the above market price, it is estimated that Mr. Phan Ngoc Hieu could recoup about VND 450 billion upon completion of the deal.
At the 2024 Annual General Meeting of PC1, Mr. Phan Ngoc Hieu was appointed as a member of the Board of Directors of PC1 from April 26, 2024, replacing Mr. Mai Luong Viet. In late January 2024, Mr. Hieu became a major shareholder of PC1 after BEHS Joint Stock Company divested its investment. Becoming a major shareholder facilitated his appointment as a member of the PC1 Board of Directors.
According to our sources, Mr. Phan Ngoc Hieu, born in 1975, is a mechanical engineer and previously served as General Director of Soc Son Steel Structure Mechanics Joint Stock Company (1997–2015). Currently, Mr. Phan Ngoc Hieu is also a member of the Board of Directors of Licogi 16 Power Joint Stock Company, Lizen Joint Stock Company (code: LCG), Vietnam Electrical Wire and Cable Joint Stock Company (code: CAV), Da Dung Mechanics and Construction Joint Stock Company, and Central Mechanical and Electrical Joint Stock Company.
Prior to PC1, Mr. Hieu had transacted a large volume of LCG shares, totaling several million units. Specifically, in March 2021, the businessman sold 4.7 million LCG shares with a purpose similar to his current divestment from PC1.
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