Boss Hien's son spends more than a thousand billion to buy SHB shares

Mr. Do Quang Vinh, Vice Chairman and Deputy General Director of SHB, has just registered to buy 100.2 million SHB shares from April 19 to May 17 through order matching and negotiation. Mr. Do Quang Vinh is the son of Mr. Do Quang Hien (Mr. Hien), who is currently Chairman of SHB.

Mr. Hien's son will spend nearly 1,200 billion VND to buy SHB bank shares

SHB shares are currently trading around VND11,800. It is estimated that Mr. Do Quang Vinh will spend nearly VND1,200 billion to buy all registered shares. If the purchase is successful, Mr. Do Quang Vinh will increase his ownership to 101.1 million shares, equivalent to 2.79% of SHB bank's capital. This ownership level is higher than Chairman Do Quang Hien's current ownership of 99.5 million shares (2.75% of capital). Mr. Vinh is also Chairman of SHS Securities Company. At the end of March, this businessman also bought 5 million SHS shares with a total value of nearly VND90 billion.

In addition to Do Quang Vinh, Mr. Hien's son, Do Vinh Quang, also owns more than 107 million SHB shares. Notably, at the same time Mr. Do Quang Vinh registered to buy a large amount of SHB shares, Ms. Do Thi Minh Nguyet - Mr. Hien's sister - also registered to sell all 25.7 million shares she was holding. It is estimated that according to the latest market price, Ms. Nguyet could earn nearly 300 billion VND.

According to SHB's 2023 management report, as of December 31, 2023, Chairman of the Board of Directors Do Quang Hien and related individuals and businesses hold more than 723 million shares, equivalent to nearly 20% of the bank's charter capital.

SHB Bank plans to hold its 2024 Annual General Meeting of Shareholders on April 25. Regarding business performance, according to the consolidated financial report for 2023 announced by SHB, after-tax profit reached VND 7,470 billion. By the end of 2023, the bank's total assets reached VND 630,425 billion; outstanding credit balance reached VND 455,000 billion, an increase of 17.1% compared to the end of 2022.

Source: https://thanhnien.vn/con-trai-bau-hien-chi-hon-ngan-ti-gom-mua-co-phieu-shb-185240415085754865.htm