VNDirect Securities (VND) just increased again, leaders immediately divested all capital

Recently, shares of VNDirect Securities Corporation (VND) have increased by 74% compared to the bottom created on February 27, 2023. Specifically, in the trading session on February 27, 2023, VND code reached the price of 13,600 VND/share.

At the end of the trading session on September 8, 2023, VND code increased back to the price of 23,650 VND/share, equivalent to an increase of 74% compared to February 27, 2023.

vndirect stock exchange vnd just returned to leadership contact capital cleaning image 1 — VND stocks have just increased to the highest level in 12 months, leaders immediately divested all capital (Photo TL)

It is worth noting that as soon as VND reached its highest price in the past 12 months, Ms. Vu Nam Huong, CFO and legal representative of VND, quickly registered to divest all capital from the company.

Specifically, Ms. Huong registered to sell 728,000 VND shares, reducing her ownership ratio from 0.06% to 0%. The transaction is expected to take place from September 12, 2023 to October 10, 2023.

The fact that a senior leader, who is also the legal representative of VNDirect, divested all of his capital right when the stock price reached its peak in the past year has made many investors wonder. Especially when VNDirect has just announced positive business results. This is also considered one of the reasons why VND stock prices have been pushed up in recent days.

In the second quarter of 2023, VND recorded net revenue from securities trading activities of VND 1,603.6 billion, gross profit of VND 1,032.5 billion. Profit after tax was recorded at VND 429 billion.

Although compared to the same period, the above profit level has not yet recovered to the level of the second quarter of 2022, compared to the previous 3 "poor" business quarters, this is a good sign for VND.

From the third quarter of 2023, VND achieved revenue of VND 1,366.6 billion, profit after tax was only VND 42.3 billion due to very low gross profit. In the fourth quarter of 2022, VND even had to record a loss of VND 38.4 billion even though revenue improved to VND 1,934.2 billion. In the first quarter of 2023, VND achieved revenue of VND 1,291 billion but profit was only VND 135.7 billion.

It can be seen that the profit of 429 billion in the second quarter of 2023 is a sign of recovery for VNDirect. But this is also the time when the leader and representative of the company wants to divest all capital from the company. It is estimated that with the closing price on September 8, 2023, Ms. Huong will earn about 17.2 billion VND when selling all shares in VND.

Source