Mr. Nguyen Van Son has disclosed a transaction to serve his personal needs. Based on SJE’s closing share price of VND 25,600 per share on September 9, Mr. Son is expected to earn approximately VND 27 billion if the deal is completed.
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Notably, Mr. Son has recently submitted his resignation from the position of SJE’s Board of Management for the 2024-2029 term due to personal reasons. On August 21, the Board approved his resignation and stated that they would report it at the upcoming General Meeting of Shareholders.
Regarding share transactions, Mr. Pham Van Tien, Mr. Nguyen Van Son’s brother-in-law, reported that he had successfully sold all 1.15 million SJE shares, equivalent to 4.76% of the capital, and is no longer a shareholder of the Company.
In fact, Mr. Tien faced some challenges in divesting his entire stake in SJE. In the first attempt (from July 11 to August 9), he was only able to sell 860,800 SJE shares (a success rate of 75%) due to not meeting his expected price. On August 16, Mr. Tien finally sold the remaining SJE shares.
However, the share price of SJE has declined after reaching its highest level in nearly two years at VND 28,100 per share on August 9, an increase of nearly 32% compared to the beginning of the year.
| SJE Share Price Movement since the Beginning of 2024 |
In terms of business performance, in the first six months of 2024, SJE recorded net revenue of nearly VND 1,066 billion and a net profit of nearly VND 101 billion, up 362% and 414%, respectively, compared to the same period last year. The company attributed this performance to its efforts in accelerating capital recovery from the 500kV Quang Trach – Pho Noi power line projects, which led to increased revenue and improved profit margins.
| SJE’s 2024 Half-Year Profit is the Highest in its History |
On September 9, the SJE Board of Management approved the registration dossier for offering more than 18.1 million shares to the public through a rights issue to existing shareholders at a ratio of 4:3. With an offering price of VND 13,000 per share, the company is expected to raise nearly VND 236 billion for investment activities and debt repayment.
If successful, SJE will also increase its charter capital from nearly VND 242 billion to nearly VND 423 billion.
Te Manh
