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VietinBank Securities has reported selling 276,000 KHS shares on November 28, reducing its ownership to 4.38%, equivalent to 530,000 shares, and is no longer a major shareholder.
This is the fourth time that VietinBank Securities has sold KHS shares from November 22-28. In total, the organization has divested more than 790,500 KHS shares (6.54%) in just one week, with the same portfolio restructuring purpose.
During the above period, KHS shares did not record any matched transactions, suggesting that VietinBank Securities likely sold the shares through order matching. Notably, this was a hot streak for KHS shares, with the market price rising from VND 11,500/share to VND 13,800/share on November 29 (a 20% increase).
Assuming an average price of VND 12,300/share during the aforementioned period, it is estimated that VietinBank Securities could have raised nearly VND 10 billion from the KHS divestment.
| KHS Share Price Movement in November |
The relationship between VietinBank Securities and KHS began in December 2017 when KHS was listed on the HNX. At that time, VietinBank Securities was one of the top five shareholders of KHS, with an ownership rate of 8.47%, and also served as the listing advisor for KHS.
In terms of business performance, for the first nine months of 2024, KHS recorded a net profit of nearly VND 19 billion, improving from a loss of VND 22 billion in the same period in 2023, despite a 9% decline in revenue to below VND 502 billion.
Although profitable, KHS’s subsidiary, Aoki Seafood Company Limited, incurred losses and has been subject to bankruptcy proceedings by the People’s Court of Kien Giang Province.
| Kien Hung Reported Loss for the First Time Since Listing in 2023 |
