VNDirect (VND) shares have just rebounded, but the company's leaders have immediately divested all their holdings.

Recently, shares of VNDirect Securities Joint Stock Company (VND) have surged by 74% compared to their lowest point reached on February 27, 2023. Specifically, in the trading session on February 27, 2023, VND shares reached a price of 13,600 VND per share.

At the close of trading on September 8, 2023, VND stock had risen back to 23,650 VND/share, equivalent to a 74% increase compared to February 27, 2023.

VND shares just surged to their highest level in 12 months, and the company's leaders immediately divested all their holdings (Photo: TL).

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

Specifically, Ms. Huong registered to sell 728,000 VND shares, reducing her ownership stake 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 executive, who is also the legal representative of VNDirect, divested all his shares right when the stock reached its peak price in the past year has raised concerns among many investors. This is especially true after VNDirect recently announced positive business results. This is also considered one of the reasons why the VND stock price has been pushed higher in recent days.

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

Although the profit level is still not up to the level of Q2/2022 compared to the same period last year, it is a positive sign for VND when compared to the three previous "dismal" quarters of business.

From Q3 2023, VND achieved revenue of VND 1,366.6 billion, but after-tax profit was only a meager VND 42.3 billion due to extremely low gross profit. In Q4 2022, VND even recorded a loss of VND 38.4 billion despite improved revenue of VND 1,934.2 billion. In Q1 2023, VND achieved revenue of VND 1,291 billion but brought in a profit of only VND 135.7 billion.

The profit of 429 billion VND in Q2 2023 is a sign of recovery for VNDirect. However, this is also the time when the company's leader and representative wants to divest all her capital from the company. Based on the closing price on September 8, 2023, it is estimated that Ms. Huong will receive approximately 17.2 billion VND from selling all her shares in VND.

Source: https://www.congluan.vn/chung-khoan-vndirect-vnd-vua-tang-tro-lai-lanh-dao-lien-thoai-sach-von-post263895.html