In the latest announcement, Mr. Le Dinh Duong, Chairman of Hoa Binh Securities Joint Stock Company (code: HBS), has registered to purchase over 1.5 million HBS shares. This amount corresponds to more than 4.5% of HBS’s capital.
The transaction is expected to be conducted through matched orders and put-through transactions between July 15 and August 13, 2024.
Currently, Mr. Duong owns more than 5 million HBS shares (15.15% stake). If the above transaction is completed, the Chairman will increase his ownership to over 6.5 million shares (19.7% stake).
Based on the current market price, Mr. Duong is expected to spend approximately VND 15 billion to increase his holdings in Hoa Binh Securities.
It is known that Mr. Le Dinh Duong (born in 2003) has been serving as the Chairman of HBS since August 3, 2023. Mr. Duong is the son of former HBS Chairwoman Nguyen Thi Loan, who had held the position for 14 years before being removed in April 2022. Ms. Loan is also the Chairwoman of Vimedimex Pharmaceutical Joint Stock Company (code: VMD). In November 2021, she was prosecuted by the Hanoi Police for land-related offenses.
In terms of financial results for the first quarter of 2024, HBS recorded operating revenue of nearly VND 9.2 billion, a significant increase of 188% over the same period last year. However, financial revenue decreased sharply from over VND 6 billion in Q1/2023 to nearly VND 19 million in this quarter. After expenses, HBS reported a post-tax profit of over VND 4.6 billion, slightly higher than in Q1/2023.
As of the market close on July 11, HBS shares traded at VND 10,000 per share, up about 23% since the beginning of 2024.
Trial of Former Chairman of Vimedimex: Lawyer Accuses Missing Criminals
In the courtroom, the defense attorney representing defendant Nguyen Thi Loan, former chairwoman of Vimedimex, argues that there is an indication of “allowing criminals to escape punishment.” He makes the case that members of the Hanoi Land Valuation Council, who had the authority to set the starting price for auction but were not held accountable in this case, should also be investigated.
Former chairwoman of Vimedimex Nguyen Thi Loan pleads innocence, several other defendants admit guilt
At the trial, former Vimedimex chairwoman Nguyen Thi Loan stated the indictment was incorrect and accused her of injustice, while many other defendants confessed to the offenses stated in the indictment.
Vimedimex ex-chairman’s case file surprisingly returned at the sentencing hearing
After the unexpected return to the questioning stage of the trial against Nguyen Thi Loan, former chairwoman of Vimedimex Pharmaceutical Joint Stock Corporation, and her accomplices, the Trial Council has decided to return the case file, requesting further investigation
