SSG Corporation (SSG Group) has announced that it is no longer a major shareholder of Vietnam Seafood Corporation (Seaprodex, stock code: SEA, listed on UPCoM). The group sold its entire stake of over 14.9 million SEA shares, representing 11.92% of Seaprodex’s charter capital, on December 23, 2025.
On the same day, SEA shares witnessed a surge in liquidity, with a total trading volume of 40.62 million shares, valued at 1.396 trillion VND. Notably, only 38,400 shares were traded through the order-matching system, while the rest were transacted via negotiated deals.
The estimated average trading price during the session was 34,372 VND per share, lower than the closing market price of 45,000 VND per share.
SSG Group’s divestment comes just four months after it became a major shareholder of Seaprodex by acquiring 14.9 million shares on August 22, 2025, from Red Capital Fund Management JSC.
On August 22, 2025, 11,400 SEA shares were traded through the order-matching system, and 14.9 million shares were negotiated, totaling 507.16 billion VND in transaction value, equivalent to 34,000 VND per share.
As of September 30, 2025, the largest shareholder of Seaprodex is the State Capital Investment Corporation (SCIC), holding 63.38% of the charter capital. Additionally, Gelex Group JSC (stock code: GEX, listed on HoSE) owns 3.02 million shares, equivalent to 2.42% of Seaprodex’s capital.
Seaprodex owns prime real estate at 2-4-6 Dong Khoi Street, Saigon Ward, Ho Chi Minh City.
Established in 2003 with seven founding shareholders, SSG Group’s primary shareholder group includes Mrs. Hua Thi Phan and associates previously linked to the high-profile Ha Van Tham – Pham Cong Danh case.
Following this case, around 2016, Mrs. Hua Thi Phan resigned from SSG Group’s Board of Directors. Since then, the group’s shareholder structure has remained undisclosed.
In July 2023, SSG Group registered a new entity, Ngoc Viet Group JSC, spun off from a group of shareholders holding 28.96% of the corporation’s shares. The new entity has a charter capital of 389.6 billion VND, chaired by Mr. Dinh Ngoc Ninh.
Post-spinoff, SSG Group’s charter capital stands at 710.3 billion VND, with Mr. Dang Viet Dung as Chairman and Mrs. Nguyen Thi Nhu Mai as CEO.
According to its website, SSG Group comprises numerous subsidiaries primarily operating in real estate and education.
In real estate, SSG Group is renowned for developing landmark projects such as My Dinh Pearl Complex, Saigon Pearl Luxury Residential Area, Saigon Airport Plaza, SSG Tower (a commercial center with offices and high-end apartments), and OPAL Building.
SSG Group also invests in industrial real estate as a strategic investor in Idico Corporation (stock code: IDC) since 2018. As of Q2 2025, SSG Group holds 74.25 million IDC shares, representing 22.5% of its capital.
In education, SSG Group owns the Wellspring International School system, with campuses in Hanoi and Ho Chi Minh City.
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Red Capital’s impressive gains from their investment in stocks are estimated to be approximately 720 billion VND, with profits exceeding 200 billion VND after just one year.
