The Rise of a Shoe Brand: A Story of Soaring Stock Prices and Dynamic Shareholder Groups

Meanwhile, has witnessed a significant change in its major shareholder structure through a matched transaction. On August 13, Ms. Nguyen Hoang Yen acquired 1.03 million GTD shares, increasing her ownership from 0% to 11.08% and becoming a large shareholder. This amount of shares was purchased from Mr. Nguyen Van Nam, who sold his entire stake on the same day and thus withdrew from the company’s shareholder list.

The total value of the shares traded was over VND 11.33 billion, corresponding to an average price of nearly VND 11,000 per share, which was 11% lower than the closing price of VND 12,400 per share on the same day. No matched transactions were recorded during this period.

Prior to this transaction, GTD’s share price had increased for two consecutive sessions, including one ceiling session. Following the transaction, the code continued to surge with four consecutive gaining sessions, including three ceiling sessions from August 18-20.

By August 21, GTD’s reference price stood at VND 19,600 per share, the highest level since mid-June 2022, representing a 58% increase within just one week. Over a three-month period, the share price rose by more than 92% and showed a 53% increase compared to the same period last year. The average trading volume for the year was approximately 850 shares per session.

During this time, Commercial Investment Thai Binh JSC also registered to sell all of its 930,000 GTD shares, equivalent to 10% of the capital. The expected trading period is from August 21 to September 15 through matched transactions for portfolio restructuring. If successful, the organization will withdraw from the list of shareholders.

Commercial Investment Thai Binh JSC is an organization related to several high-ranking leaders at GTD, including two members of the Board of Directors, Ms. Tran Thi Giang Thuy and Ms. Tran Thi Hong Sam, and a member of the Supervisory Board, Mr. Nguyen Quoc Cuong. However, none of them directly own any shares.

In addition, GTD also has Ms. Tran Thi Thanh, an unrelated major individual shareholder, holding 5.35% of the capital. Previously, Ms. Thanh owned 6.27% but reduced her ownership in mid-June 2025.

Prolonged Business Challenges

Once known as a “national” shoe brand, is currently facing numerous difficulties. In 2024, its revenue fell short of VND 79 billion, the lowest in history, with an average of just over VND 21 million per day. The company incurred a post-tax loss of nearly VND 13 billion, double that of the previous year, bringing the accumulated loss at the end of the year to over VND 67 billion. Owner’s equity stood at over VND 26 billion.

For 2025, GTD set a target to produce 700,000-900,000 pairs of shoes, with approximately one-third for export. The company aims to achieve a revenue of VND 100 billion and a modest profit of VND 100 million. The management emphasized that despite the small figure, it marks an important step after years of losses.

Another key focus is the plan for state capital divestment. The Hanoi People’s Committee currently represents 68.67% of GTD’s capital. The management warned that if the divestment is delayed, there is a significant risk of state capital loss.

Can Vietnam’s Oldest Shoe Brand Survive?

The Mighty

– 17:44 21/08/2025

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