In March 2022, Pham Thi Huan, the founder of Ba Huan Eggs, announced the sale of 25% of the company’s shares and introduced Tran Viet Hung (born in 1985) as the new CEO.
A Troubled Transaction
The buyer committed to a 50-year partnership with the Ba Huan brand from the date of the agreement.
Further details of the share sale were not disclosed by Pham Thi Huan until recently, when it was revealed that Ba Huan Joint Stock Company owed over VND 51 billion in taxes and faced customs suspension for imports and exports.
In an interview with Nguoi Lao Dong Newspaper on November 13, Pham Thi Huan disclosed that initially, she planned to sell 59% of the shares, retaining 41%. However, after a period of management, the buyer demanded either full ownership or a refund of the purchase amount.
At that time, Huan had no liquid assets, as the proceeds from the share sale had been used to settle debts, reclaim property documents, and compensate founding shareholders.
Consequently, she decided to sell the entire company, as her children were unable to continue her legacy.
Legally, the company’s ownership and representative have changed, leaving Huan without managerial authority, though she retains the title of Honorary Chairwoman.
However, the buyer has yet to fully pay Huan for the company acquisition, a substantial sum.
Huan confirmed submitting the latest business license to authorities to prove the share transfer but declined to share further details with the press.
Pham Thi Huan and CEO Tran Viet Hung during a factory visit in Long An, July 2024
Pham Thi Huan Once Held Nearly 74% Shares
According to the National Business Registration Portal, Ba Huan Joint Stock Company was established on February 23, 2006. The latest update on November 27, 2024, lists Tran Viet Hung as the legal representative and CEO.
The company’s charter capital is VND 1,471,689,290,000 (approximately VND 1,500 billion), fully funded by private capital.
Tran Viet Hung officially became the legal representative on August 5, 2022, replacing Pham Thi Huan, who moved to the position of Chairwoman.
During this transition, the charter capital increased from VND 780 billion to VND 821.337 billion.
Current shareholder information is not publicly available on the portal.
Previously, the amended business license dated November 1, 2016, listed six founding shareholders, with Pham Thi Huan holding the largest share at nearly 74% and a charter capital of VND 219 billion.
As described on Ba Huan’s website, the brand has grown over 50 years from a small egg vendor. Ba Huan products are now available in 3,000 supermarkets nationwide and exported to five international markets. The company operates a closed-loop system, from farm to table, specializing in eggs, chicken meat, and related processed products.
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