Former HTE Chairman spent 10 billion VND to buy 1 million treasury shares

Ho Chi Minh City Power Investment and Trading Joint Stock Company (UPCoM: HTE) has just announced information correcting the report on the results of its private share offering. Accordingly, on August 1, 1 million treasury shares of HTE were sold at a price of VND10,000/share. After the offering, the company still holds 970,000 treasury shares. The transaction agent is FPT Securities Joint Stock Company (HOSE: FTS).

HTE stock price at the session on August 1 was 4,700 VND/share. Based on this price, HTE's treasury shares were sold at more than twice the market price. The total amount of money that HTE received after offering treasury shares was 10 billion VND.

The buyer of the above shares is Mr. Tran Ngoc Thach, former Chairman of the Board of Directors of HTE, a strategic investor. Accordingly, before the offering, Mr. Thach owned nearly 119,000 shares.

After purchasing 1 million shares after the offering, the number of HTE shares he owns is more than 1.1 million, equivalent to 4.94% of the equity based on the number of outstanding shares after the offering is completed.

Ho Chi Minh City Power Investment and Trading Joint Stock Company (HTE) was established in 2007. The company operates in the field of construction consultancy, construction and installation of electrical works and trading of electrical equipment and materials. Currently, the position of Chairman for the 2022-2027 term is held by Mr. Nguyen Anh Vu.

In terms of financial situation, in the second quarter of 2023, HTE recorded net revenue of VND 10 billion, down 35% compared to the same period in 2022. The company also earned a profit after tax of nearly VND 2 billion, better than the loss after tax of VND 3.2 billion in the second quarter of 2022. As of June 30, 2023, HTE's total assets reached VND 311 billion .

Thu Huong

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