The Hanoi Stock Exchange (HNX) has just announced that Mr. Duong Nhat Nguyen, Chairman of the Board of Directors of Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank, UPCoM: VBB) has purchased 7 million VBB shares on January 10.
After the transaction, Mr. Nguyen successfully increased his ownership from 16.05 million shares, equivalent to 3.36%, to 23.05 million shares, equivalent to 4.83%. Previously, the Chairman of Vietbank registered to buy shares to increase his ownership.
On January 10, VBB stock price closed at 10,900 VND/share, it is estimated that Vietbank's Chairman had to spend about 76 billion VND to increase ownership.
However, according to transaction statistics on January 10 on HNX, VBB shares were negotiated for 16.5 million units with a total value of VND188.1 billion, equivalent to an average price of VND11,400/share. Thus, tentatively calculated at this price, Mr. Nguyen had to spend VND79.8 billion to complete the above transaction.
VBB stock price movements in the past 6 months (Photo: FireAnt).
According to the 2023 semi-annual management report, Mr. Duong Nhat Nguyen's relatives holding a significant amount of VBB shares include Mr. Duong Ngoc Hoa (father) with a holding of 21.74 million units, equivalent to 4.55%;
Ms. Duong Mai Anh (younger sister) owns 10.06 million units, equivalent to 2.11% and Ms. Duong Bao Anh (younger sister) owns 8.12 million units, equivalent to 1.7%.
In a related development, on January 9, Vietbank closed the list of shareholders to issue more than 100.3 million shares to existing shareholders at a ratio of 100:21 (1 share entitles 1 right, 100 rights to buy 21 new shares) with an issuance price of VND 10,000/share.
The odd decimal shares (if any) that are not sold out will continue to be distributed at a price not lower than par value and will be subject to transfer restrictions for 1 year from the date of completion of the offering.
Time for transfer of purchase rights from January 16 to February 21, time for registration to purchase from January 16 to February 28.
At the end of the trading session on January 16, VBB code stopped at 10,300 VND/share, compared to the most recent peak in early August 2023 of 12,700 VND, the current price of VBB has decreased by 23%. Average liquidity is 18,000 shares/day .
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