Mr. Dang Dinh Quyet, Deputy General Director of BCG Energy, has recently registered to sell most of his shares to meet his personal financial needs. Specifically, he plans to sell 3 million BGE shares through a negotiated deal from May 26 to June 19. If successful, his ownership will decrease from 0.42% to 0.01% of the capital, equivalent to 100,000 shares.
| BGE share price movement since trading on UPCoM |
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Mr. Dang Dinh Quyet joined BCG Energy in 2020 and has held several key positions within the Bamboo Capital ecosystem. Before assuming the role of Deputy General Director in charge of project development in September 2024, he served as Deputy Head of Construction at Hanwha – BCG Bang Duong Energy JSC and then as Director of Project Development at BCG Energy.
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This move comes as the BGE share price is recovering strongly after a sharp decline. In the last 20 sessions, the stock has risen in 13 sessions, including 3 ceiling sessions, and is currently trading at around VND 5,500/share, up nearly 67% after just 3 weeks.
However, the current market price is still 10% lower than a quarter ago and 65% lower than its debut day. Since trading on UPCoM in late July 2024, BGE shares have fallen sharply from the reference price of VND 15,600 to VND 14,600 in the first session and continued to adjust afterwards.
Based on the current market price, if Mr. Quyet successfully sells all the registered shares, he could earn approximately VND 16.5 billion.
Prior to Mr. Quyet, relatives of BGE leaders have also made capital divestment transactions. Ms. Do Thi In, the mother of Mr. Dong Hai Ha, Head of the Supervisory Board, sold all 2 million BGE shares (0.27%) in the April 10 session. Notably, BGE shares rose to the ceiling price of VND 3,500/share in this session with no negotiated deals, indicating that Ms. In likely divested her capital through matching orders, with an estimated value of VND 7 billion.
In terms of investment activities, BGE recently approved a commitment to provide financial support of up to VND 1,151 billion to BCG Khai Long 3 Wind Power JSC for the implementation of the Khai Long Wind Power Plant Project – Phase 3.
BGE is currently an indirect owner of BCG Khai Long 3 through BCG Khai Long 1 Wind Power JSC, which is also a related party to insiders. Mr. Dang Dinh Quyet also serves as Deputy General Director of Khai Long 3.
In terms of business results, in the first quarter of 2025, BCG Energy’s consolidated revenue reached VND 296.5 billion, down 7% year-on-year. Net profit reached VND 4.4 billion, a significant decrease of 92%, mainly due to unfavorable weather conditions reducing electricity output, as well as foreign exchange losses at units with foreign currency debts and a decline in profit from joint ventures.
– 16:12 23/05/2025
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