LPBank Deputy General Directors "massively" sell bank stocks

Lien Viet Post Joint Stock Commercial Bank ( LPBank , HoSE: LPB) has just announced a series of transactions of insiders and related insiders.

Accordingly, Mr. Nguyen Quy Chien - Deputy General Director of the bank has just registered to sell 345,000 shares, equivalent to 0.02% of the number of outstanding shares for personal needs.

After the successful transaction, Mr. Chien only owns 161,649 shares.

Mr. Hoang Van Phuc - Deputy General Director of LPBank.

Another Deputy General Director who also registered to sell shares is Ms. Vu Thu Hien. Specifically, Ms. Hien registered to sell 271,400 shares, equivalent to 0.0157% of the outstanding shares.

After the transaction, Ms. Hien will only own 78 LPB shares, equivalent to 0% of the outstanding shares.

In addition, Mr. Hoang Van Phuc, Deputy General Director of LPBank, also wants to sell all of the LPB shares he owns, which are 271,448 shares, equivalent to 0.0157% of the number of outstanding shares.

The above transactions are expected to be carried out by negotiation/order matching method, from June 30 to July 28, 2023.

In addition, LPBank also announced that Mr. Bui Thai Binh , younger brother of Mr. Bui Thai Ha - Vice Chairman of the Board of Directors and Deputy General Director of LPBank, registered to sell 35,000 shares, reducing ownership to 126,063 units.

Expected transaction time is from June 30, 2023 to July 29, 2023.

At the close of trading on June 27, LPB shares were down 0.3% and priced at VND15,250/share.

Temporarily calculating at the current price range, Deputy General Director Nguyen Quy Chien can earn more than 5.2 billion VND, Ms. Hien and Mr. Phuc can earn about 4.1 billion VND and Mr. Bui Thai Binh can earn more than 500 million VND from selling LPB shares.

LPB stock price movement (Source: TradingView).

Regarding LPBank, the Board of Directors of this bank has just assigned Mr. Ho Nam Tien the position of Acting General Director, assuming the powers and duties of the General Director.

Regarding business performance, at the end of the first quarter of 2023, the bank reported pre-tax profit of VND 1,566 billion, down 12.8% over the same period.

Of which, the main income is net interest income, down 3.5% over the same period, reaching VND2,774 billion. Net profit from other business activities lost VND11.5 billion while in the same period, it was VND191 billion.

In addition, the State Bank has just approved LPBank to increase its charter capital by a maximum of VND 11,385 billion, equivalent to issuing an additional 1.13 billion shares according to the charter capital increase plan approved by the 2023 Annual General Meeting of Shareholders.

Specifically, the bank will issue 328.5 million shares to pay dividends to existing shareholders at a rate of 19%; 500 million shares offered to existing shareholders; 300 million shares offered privately to foreign investors and 10 million shares issued under the employee stock option program (ESOP).

After completing the above issuances, LPBank's charter capital is expected to increase from VND 17,291 billion to VND 28,676 billion .

Source: https://www.nguoiduatin.vn/cac-pho-tong-giam-doc-lpbank-o-at-ban-co-phieu-ngan-hang-a614519.html