“A Major Shake-up: Dang Thanh Tam Seeks to Sell Over 86 Million KBC Shares as Dragon Capital Exits Hoa Sen Group”

KBC Chairman Proposes to Transfer 11.27% of Capital

Mr. Dang Thanh Tam, Chairman of the Board of Management of the Urban Development and Construction Corporation (KBC) registered to transfer the ownership of 86.55 million KBC shares (equivalent to 11.27% of KBC’s charter capital) to DTT Development and Investment Joint Stock Company. The reason for this transfer is that Mr. Tam contributed capital to DTT in the form of KBC shares.

The method of transaction is “transfer of ownership through the Vietnam Securities Depository and Clearing Corporation”. The expected transaction time is from September 9 to October 8, 2024. Referring to the market price of VND 26,750/share at the end of August, the above amount of shares is worth about VND 2,315 billion.

Mr. Tam currently owns 138.67 million KBC shares, equivalent to 18.06% of KBC’s charter capital. It is expected that after the transaction, the Chairman of KBC will reduce the number of shares held to 52.12 million, corresponding to 6.79%.

Regarding DTT Development and Investment Joint Stock Company, this company was established in January 2024, with a charter capital of VND 490 billion. At that time, Mr. Tam held the position of Chairman of the Board of Directors and owned 90.4% of the company’s charter capital. The rest is held by his daughter, Dang Nguyen Quynh Anh, and Mrs. Sam Thi Huong.

By April 2024, Mr. Tam was recognized as Director and legal representative. Information in the notice of KBC share transfer shows that Mr. Tam currently holds 18.06% of the capital of DTT Development and Investment Joint Stock Company. Meanwhile, DTT does not own any KBC shares. After the transaction, this company will become a new major shareholder of KBC, holding 11.27%.

Dragon Capital is no longer a major shareholder of Hoa Sen Group

In the transaction report on August 30, the Dragon Capital fund member group announced that it had sold a net amount of 3.5 million shares of Hoa Sen Group (HSG), reducing its ownership to 30 million shares, equivalent to 4.8% of the capital and is no longer a major shareholder of Hoa Sen Group.

According to an estimate based on the market price of VND 20,800/share at the end of August, the value of the above shares is about VND 73 billion.

Recently, the foreign fund group Dragon Capital has continuously sold HSG shares, thereby gradually reducing its ownership in Hoa Sen Group. In general, from the beginning of the year to now, Dragon Capital has continuously reduced its ownership in Hoa Sen Group, from an ownership rate of over 12% to 4.8% as at present. The strongest divestment pressure fell in August, with a volume of about 19 million units.

The Dragon Capital fund group continuously reduced its ownership in Hoa Sen Group while HSG shares have decreased by nearly 10% since the beginning of the year and decreased by 5% in the past month with an average trading volume of about 10.4 million units per session.

Chairman of Phat Dat’s Daughter and Top Executives Proposed to Sell PDR Shares in Large Quantities

In the latest announcement, Ms. Nguyen Thi Minh Thu, daughter of Mr. Nguyen Van Dat, Chairman of the Board of Directors of Phat Dat Real Estate Development Joint Stock Company (PDR), has registered to sell nearly 1.1 million PDR shares to meet personal financial needs. If the transaction is successful, Ms. Thu will reduce her holdings in Phat Dat to nearly 6 million shares, equivalent to 0.68% of the capital.

Based on the floor price of PDR shares, Ms. Thu is expected to collect about VND 23 billion after completing the above transaction.

Following suit, Mr. Nguyen Tan Danh, Vice Chairman of the Board of Directors of Phat Dat, also registered to sell more than 617,000 PDR shares for the purpose of personal financial needs. Both transactions are expected to be implemented from September 6 to October 4, 2024.

The selling move by senior executives and relatives was recorded in the context of poor performance of PDR share price. At the end of the August 30 session, the share price stood at VND 21,550/share, down 14% from the beginning of 2024.

PC1 Leader Proposed to Sell 15.6 Million Shares

Mr. Phan Ngoc Hieu, a member of the Board of Directors of PC1 Corporation (PC1), has just registered to sell all 15.55 million PC1 shares, equivalent to 5% of PC1’s capital, for the purpose of restructuring his investment portfolio. The transaction is expected to be made from August 30 to September 27 by order matching or negotiation.

In the market, PC1 shares are currently trading around the VND 29,000/share mark. Based on the above market price, Mr. Phan Ngoc Hieu is expected to collect about VND 450 billion when divesting his entire investment.

At the 2024 Annual General Meeting of Shareholders of PC1 Corporation, Mr. Phan Ngoc Hieu was appointed as a member of the Board of Directors of PC1 from April 26, 2024, when the company dismissed Mr. Mai Luong Viet.

The number of registered shares to be sold above was held by Mr. Phan Ngoc Hieu before joining the Board of Directors of PC1 Corporation. In late January 2024, this individual announced that he had become a major shareholder of PC1 Corporation.

IDJ Investment Registered to Buy 6 Million API Shares

IDJ Vietnam Investment Joint Stock Company (IDJ) has registered to buy 6 million shares of API of Asia-Pacific Investment Joint Stock Company (API), equivalent to 7.15% of capital. The expected transaction time is from August 29 to September 27. The purchase is made in accordance with the resolution of the Board of Directors passed on August 23.

There are two related individuals between IDJ and API. Specifically, Mr. Nguyen Duc Quan is the co-Chairman of the Board of Directors, and Mrs. Nguyen Thi Ngoc Ha, Head of the Supervisory Board of API, is a member of the Board of Directors of IDJ. Neither Mr. Quan nor Mrs. Ha owns any API shares.

According to the semi-annual management report of API, Asia-Pacific Securities Joint Stock Company (APS) holds 13.1% of API’s capital, Mr. Nguyen Do Lang holds 19.6%, and Mrs. Huynh Thi Mai Dung (Mr. Lang’s wife) holds 9.82%, all of whom are major shareholders of API as of the end of June.

IDJ, API, and APS are all part of the Apec Group ecosystem. This is the trio of stocks involved in the price manipulation case related to Mr. Nguyen Do Lang. The founder of Apec Group and several individuals were accused of using securities accounts to create fake liquidity and manipulate stock prices.