Saigon Real Estate Corporation (Saigonres) recently announced insider trading activities involving its shares.
Mr. Pham Thu, Chairman of the Board of Saigonres, registered to trade 9.8 million SGR shares between June 9, 2025, and July 7, 22025, through matched orders and floor trading.
Upon the completion of this transaction, Mr. Thu’s ownership in Saigonres would decrease from over 27.8 million shares, or 39.84%, to over 18 million shares, representing 25.82% of the company’s capital.
Previously, Saigonres planned to offer 20 million shares in a private placement to professional securities investors at VND 40,000 per share, potentially raising VND 800 billion.
The capital raised would be allocated as follows: VND 500 billion for investment and funding of the Viet Xanh Eco-Urban Area project, and up to VND 300 billion for debt repayment.
Interestingly, Mr. Pham Thu, the Chairman, was the sole participant registered to purchase all 20 million shares in the private placement, requiring an investment of approximately VND 800 billion.
However, on May 7, 2025, Mr. Thu announced that he had successfully purchased 9.875 million SGR shares out of the 20 million shares he registered to buy. The reason for the incomplete transaction was attributed to the unstable stock market conditions and the one-year restriction on transferring these shares from the end of the offering period.
As a result of this transaction, Mr. Thu’s ownership in Saigonres increased from nearly 18 million shares to over 27.8 million shares, raising his stake from 29.94% to 39.84%.
On the same day, May 7, 2025, Saigonres announced the conclusion of its private placement of 20 million shares at VND 40,000 per share. However, only 9.9 million shares were successfully placed with Mr. Thu, while the remaining over 10.1 million shares were canceled due to non-payment by registered investors. The net proceeds from this offering totaled VND 394.85 billion.
Following this private placement, Saigonres’ chartered capital increased to nearly VND 698.8 billion.
For the first quarter of 2025, Saigonres reported a 13% increase in consolidated revenue, amounting to VND 23.464 billion. Gross profit decreased by 25% to VND 2.33 billion, while net profit reached VND 18.9 billion, compared to a loss of VND 13.6 billion in the same period last year, representing a 239% increase. This improvement was attributed to increased revenue from its subsidiaries, higher financial expenses due to increased borrowing costs, and reduced administrative expenses due to the reversal of allowance for doubtful accounts.
For the full year 2025, Saigonres set ambitious targets, aiming for VND 1,025 billion in revenue and VND 320 billion in net profit. The management attributed these positive forecasts to expected revenue from the transfer of projects and other products of the Corporation.
