No similar transactions were recorded on July 5th; however, from the beginning of May until now, the market has witnessed a total of approximately 26.4 million shares of DNP Holding JSC (HNX: DNP) being traded via matching transactions in 10 sessions, with the largest reaching over 4.8 million units (on May 20, 2024).
The average transaction price ranged from VND 18,000 to VND 20,800 per share, not much different from DNP’s market price in the recent period. It is estimated that Company VII spent around VND 466 billion to acquire the above amount of shares.
In addition to Company VII, DNP’s major shareholders include Mr. Vu Dinh Do (owning 10.75% as of the end of 2023) and Mr. Hoang Anh Tuan, a member of the Board of Directors and General Director (owning 5.08%).
| DNP share price movement from the beginning of May 2024 until now |
Company VII was established in October 2020, with its head office located in the Embassy Garden Tay Ho Tay urban area in Bac Tu Liem district, Hanoi. VII mainly operates in the management consulting sector with an initial charter capital of VND 50 billion. Of this, Mr. Nguyen Huy Tuan, the General Director and legal representative, holds a 95% stake, while Ms. Pham Tran Thu Nga and Mr. Nguyen Minh Quang each hold 2.5%.
A year later, Mr. Nguyen Huy Tuan relinquished his role to Ms. Phan Thi Thu Thao. The head office of Company VII was then moved to the 6th floor of Tasco Building in Nam Tu Liem district (formerly known as Vinaconex 9 Building); at the same time, its charter capital was increased to VND 150 billion. At the beginning of 2022, the legal representative was changed to Mr. Do Van Tuan, and then to Mr. Vu Ngoc Minh, who currently holds this position.
In September 2023, Mr. Do Van Tuan was elected as Chairman of the Board of Directors and General Director of Tasco Insurance Joint Stock Company (a wholly-owned subsidiary of Tasco Joint Stock Company (HNX: HUT)), replacing Mr. Tran Van Hieu. Meanwhile, Mr. Nguyen Huy Tuan used to serve as Investment Director and Deputy General Director of PVI Fund Management Joint Stock Company, and a member of the Board of Directors of Giditex Joint Stock Company.
On the other hand, Ms. Phan Thi Thu Thao is currently a member of the Board of Directors and Deputy General Director of HUT. She also used to hold the position of member of the Board of Directors and Deputy General Director of DNP from 2017 but resigned in July 2021 for personal reasons.
Ms. Phan Thi Thu Thao. Source: Tasco
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Not long after leaving her position at DNP and joining Company VII as mentioned, Ms. Phan Thi Thu Thao also started to become the legal representative of another “VII-family” enterprise, VII Land Joint Stock Company, which was established in September 2021.
VII and VII Land, together with Saigon General Service Joint Stock Company (Savico, HOSE: SVC) – a member unit of HUT – jointly established Tri Thuc Tuong Lai Investment Joint Stock Company, operating in the fields of real estate and education.
In this joint venture, SVC contributed 47.13%, equivalent to approximately VND 38 billion, entirely in the form of land use rights at Lot 168, Map 106, Tam Binh Ward, Thu Duc City, Ho Chi Minh City. Meanwhile, VII Land owned 30% and Company VII owned 22.87%.
The common denominator among VII, VII Land, and Tri Thuc Tuong Lai is that they all share the same address on the 6th floor of Tasco Building. Additionally, Mr. Do Van Tuan and Mr. Vu Ngoc Minh have successively replaced the top positions in VII Land, just as it happened in VII.
Regarding the “VII-family,” in late May, Mr. Vu Dinh Do, Chairman of the Board of Directors of HUT, established VII Holding Joint Stock Company (in which Mr. Do owns 65%) to receive the transfer of a portion or all of the shares from shareholders on the list of share swap with SVC Holdings Joint Stock Company last year, without having to conduct a public offering. This is an investment company that manages investments made by Mr. Do himself and several other individuals, including investments in HUT.
