HAC plans to sell its stake in HAP through matching or agreement methods, with the aim of restructuring its investment portfolio. Based on the closing price of the latest session (July 15) at VND 4,640/share, it is estimated that Haseco could recoup approximately VND 577 million.
Aside from ownership relations, the common link between the two companies is their leadership under Vu Duong Hien. At HAC, Mr. Hien serves as the Chairman of the Board and Deputy General Director. Meanwhile, at HAP, he holds the position of Chairman of the Board.
Mr. Vu Duong Hien also directly holds nearly 14.4 million HAP shares, representing 12.95% of the capital, and over 7 million HAC shares, equivalent to 24.29% of the capital.
At HAP, Mr. Hien’s son, Vu Xuan Thuy, serves as the Vice Chairman of the Board and Deputy General Director.
Source: VietstockFinance
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If HAC completes the sale of all its held shares in HAP, the two organizations will have fully divested their cross-holdings. Earlier, on May 7, a transaction in the opposite direction took place when HAP sold its entire holding of more than 1.9 million HAC shares (6.64% of capital).
The decision to sell was based on the resolution of the HAP Board of Directors on April 22, in which the Board authorized Mr. Vu Duong Hien to carry out the capital divestment procedures in accordance with legal regulations.
Also, on May 7, Mr. Hien’s daughter, Vu Thi Thanh Chung, sold her entire holding of more than 71,000 HAC shares (0.24%).
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HAP and Mr. Hien’s daughter fully divested their holdings in HAC in May 2024
Source: VietstockFinance
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According to our understanding, Hai Phong Securities Joint Stock Company (HAC) was the first securities company in Hai Phong and officially commenced operations on October 21, 2003. HAC gained attention through its merger with Asia-Europe Securities Joint Stock Company on November 23, 2015.
Regarding Hapaco Group Joint Stock Company (HAP), the company was formerly known as Dong Tien Paper and Cardboard Enterprise, established in 1960. After undergoing structural and name changes, on August 8, 2009, the company officially changed its name to Hapaco Group Joint Stock Company as it is known today.
HAP specializes in the production of various types of paper and paper pulp, as well as processed products from agro-forestry for export. The company also engages in real estate business, construction of offices, and rental apartments…
