Thanh Thanh Cong's daughter continues to register to sell TTC Land shares
Previously, in July, Ms. Dang Huynh Uc My completed the sale of 70 million SBT shares of Thanh Thanh Cong - Bien Hoa Joint Stock Company - a large company in the Thanh Thanh Cong Group system.
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| After the transaction in July, Ms. Dang Huynh Uc My continued to register to sell SCR shares. |
Ms. Dang Huynh Uc My registered to sell all 110,419 SCR shares, equivalent to 0.028% of the capital of Saigon Thuong Tin Real Estate Joint Stock Company - TTC Land to restructure the investment portfolio.
The transaction is expected to be conducted from September 18 to October 17, 2024 by negotiation and/or order matching on the stock exchange. If the transaction is successful, Ms. My will no longer be a shareholder of TTC Land.
Ms. Dang Huynh Uc My is the younger sister of Mr. Dang Hong Anh, Vice Chairman of the Board of Directors of TTC Land and also the daughter of Ms. Huynh Bich Ngoc and Mr. Dang Van Thanh - the two founders of TTC Group. Since July 13, Ms. My has been elected as the Chairwoman of the Board of Directors to replace Ms. Huynh Bich Ngoc at Thanh Thanh Cong - Bien Hoa Joint Stock Company - a large company in the Thanh Thanh Cong Group system listed on HoSE with the code SBT. Previously, Ms. Dang Huynh Uc My held the position of Vice Chairman at TTC AgriS for many years.
In addition to the upcoming transaction, Ms. Dang Huynh Uc My has also just completed the sale of 70 million SBT shares as registered. The transaction was conducted from July 12 to July 26, 2024. After the transaction was conducted, Ms. My reduced her ownership in this sugar company from 19.02% of capital (nearly 145 million shares) to 9.84% (nearly 75 million shares).
According to the information disclosure related to insider trading, the securities assets owned by Ms. My in listed companies in the system are still worth over a thousand billion VND after the large transaction last July. In addition to SCR Land and TTC AgriS, Ms. My also owns 922,261 GEG shares of Gia Lai Electricity Joint Stock Company listed on HoSE.
While Chairman Dang Huynh Uc My divested, Legendary Venture Fund 1, an organization based in Singapore, has continuously increased its ownership in Thanh Thanh Cong's sugar cane enterprise. This foreign shareholder bought 32.45 million shares on July 19, 28.35 million shares on July 22 and 5.7 million shares on July 25. In total, the purchase volume reached 66.5 million shares and increased its ownership to 16.48% of capital. Legendary is a fund specializing in investing in potential businesses in the Asian region. Since 2018, the fund has continuously invested in SBT shares.
TTC Land recently filed a lawsuit against Hoa Binh House Joint Stock Company on August 16, 2024 to reclaim the land of the TTC Plaza Binh Thanh project (No. 26, Ung Van Khiem, Ward 25, Binh Thanh District, Ho Chi Minh City).
Regarding the business situation, according to the consolidated financial report for the first 6 months of the year after review, TTC Land's after-tax profit only reached 659 million VND, down more than 88% compared to the self-prepared report (reporting a profit of 5.7 billion VND). Explaining the sharp decrease in profit after review, the company said the reason was due to differences in tax calculation views between the company and the auditing unit.
On the stock market, SCR shares are trading at around VND5,400/share, down 27% compared to the end of last year.
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