Phat Dat executives are racing to sell off their shares.

The general director and two deputy general directors of Phat Dat Real Estate Development Joint Stock Company have submitted a report to the regulatory authority registering to sell their shares.

Mr. Bui Quang Anh Vu - General Director of Phat Dat - Photo: PDR

Mr. Bui Quang Anh Vu, a member of the board of directors and general director of Phat Dat Real Estate Development Joint Stock Company (PDR), has registered to sell over 1.43 million shares to meet personal financial needs.

The expected transaction period is from January 9th to February 7th, 2025, using either order matching or negotiated agreement methods.

Notably, if the transaction is successful, Mr. Vu will reduce his ownership stake in PDR to 0%.

According to the Q3 2024 financial report, CEO Bui Quang Anh Vu received income of over 1.4 billion VND in the first nine months of the year, equivalent to the same period in 2023.

Mr. Vu also has the highest income among PDR's leadership team, even higher than Mr. Nguyen Van Dat - the chairman of the board of directors .

In addition to the CEO, two other deputy CEOs also registered to sell their PDR shares, thereby reducing their ownership stake in the real estate company.

Specifically, Mr. Truong Ngoc Dung registered to sell 62,097 shares, also from January 9th to February 7th. If the transaction is successful, the deputy general director of PDR will reduce his holdings from 162,097 shares to 100,000 shares - equivalent to 0.011% of the company's charter capital.

Around the same time, Mr. Nguyen Khac Sinh - another deputy general director of PDR - also registered to sell 61,670 shares. This reduced his ownership stake to 0.11%, or 100,000 shares.

Regarding business performance, Phat Dat's net revenue from sales and services in the third quarter of 2024 remained modest, reaching only 2.6 billion VND. The company's overall business results for this quarter were largely driven by financial revenue.

The continued strong increase in financial revenue is due to Phat Dat's continued transfer of shares in its affiliated companies, similar to the business results of the previous quarter.

According to the explanatory report, Phat Dat's leadership stated that the general economic situation remains difficult, including the real estate sector, therefore the company's investment and development were not favorable in the third quarter, leading to a decrease in profits for the quarter.

However, thanks to its asset sale strategy, despite modest business results, this real estate company closed the third quarter of 2024 with after-tax profit exceeding 51 billion VND.

For the first nine months of 2024, Phat Dat recorded net revenue of 173 billion VND and after-tax profit of nearly 154 billion VND, both showing a sharp decline compared to the same period last year.

Source: https://tuoitre.vn/cac-sep-phat-dat-dua-ban-ra-co-phieu-20250106210342914.htm