Business leaders and major shareholders dump stocks after period of high stock prices

Many stocks have recovered and increased recently, causing leaders and many major shareholders to start selling. Specifically, Mr. Tran Van Muoi - Chairman of the Board of Directors at Binh Thuan Agricultural Services Joint Stock Company (stock code ABS) registered to sell 5.85 million ABS shares to reduce ownership from 19.81% to 12.5% of charter capital. The transaction is expected to take place from August 14 to September 12.

Lãnh đạo doanh nghiệp, cổ đông lớn xả hàng sau giai đoạn cổ phiếu tăng cao - Ảnh 1. — Many leaders registered to sell shares after the recovery period.

In just the past month, ABS shares increased by 62.8%, from VND 5,380 to VND 8,760/share. Previously, in mid-July, Ms. Nguyen Thi Cuoi - a member of the Board of Supervisors sold all 22,000 ABS shares. In the first 6 months of 2023, the company recorded revenue of VND 634.35 billion, down 19% year-on-year, and after-tax profit of VND 62.71 billion, up 421.3% year-on-year. However, ABS shares have been under control since mid-May due to the company's delay in submitting its audited financial statements for 2022.

Similarly, Mr. Do Nguyen An, a member of the Board of Directors of Phuc Hung Holdings Construction Joint Stock Company (stock code PHC) registered to sell 300,000 PHC shares to reduce his ownership ratio. The transaction is expected to take place from August 10 to September 1. If the transaction is successful, Mr. Nguyen An will reduce his ownership in Phuc Hung Holdings to 462,973 shares, accounting for 0.91%. PHC shares have increased by nearly 60% in the past month, from under VND7,000 to VND11,000.

Or Construction Development Investment Corporation - a major shareholder of DIC Investment and Trading Corporation (stock code DIC) - registered to sell all of more than 3.92 million DIC shares, equivalent to 15.04% of capital to restructure the investment portfolio. The transaction is expected to take place from August 8 to August 31 by negotiation and order matching.

DIC shares rose to VND2,000 in early August from a low of VND1,500 a month ago, an increase of more than 30%. DIC shares are now trading at VND1,700. At this price, this major shareholder will earn more than VND2.7 billion from divestment.

Or Mr. Doan Chi Thien, assistant to the general director and son of the general director of Nam Viet Joint Stock Company (stock code ANV) has just sold more than 4 million ANV shares, reducing his ownership to 0.05% of charter capital. The transaction was conducted from July 19 to August 8.

Recently, ANV shares have also increased by about 20% from the beginning of July to the beginning of August. Compared to the beginning of this year, this stock has increased by about 70%. In the second quarter of 2023, Nam Viet recorded revenue of more than 1,074 billion VND, down 17% compared to the same period last year and a loss after tax of more than 51 billion VND. However, in the first 6 months of this year, the company still had a profit after tax of more than 41.3 billion VND...

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