From banking, securities to manufacturing, many business leaders and investment funds have traded and registered to buy and sell stocks on a large scale.
The acting CEO and seven deputy CEOs of Southeast Asia Commercial Bank (SeABank) have registered to sell a total of 22 million SSB shares out of the 24 million shares they currently hold, expected to be completed in the last two months of the year. Most of these leaders will only retain about 5-10% of their shares.
Mr. Tran Sy Tien, Deputy General Director of Saigon - Hanoi Securities Company (SHS) sold all of his more than 1.1 million shares (0.14%) in the session on November 10. Since July, many other leaders of SHS have also divested all or most of their shares with the same purpose of "meeting personal financial needs".
In the production group, for investment purposes, Ms. Do Thi Nguyet and Ms. Do Nhung, the sister and younger sister of Pomina Steel Chairman Do Duy Thai, registered to sell a total of more than 10 million POM shares in November and December. Previously, in the period of August-October, Ms. Nhung registered to sell shares but failed because the price did not meet expectations.
Mr. Nguyen Tan Duong, Chairman of the Board of Directors of Minh Hai Seafood Processing Export Company (JOS), registered to sell nearly 3.7 million JOS shares (24% of the company's charter capital) by agreement from November 21 to December 13.
Regarding investment funds, Arisaig Asian Fund Limited - a member of Arisaig Partners (Singapore) - has just sold 114,000 MWG shares of Mobile World in the session of November 10. The move continues the continuous selling of shares by foreign investors in this enterprise.
On the contrary, many business leaders also registered to buy shares on a large scale. Mr. Pham Quoc Thanh, General Director of HDBank, has just registered to buy 2 million more shares for investment purposes.
Mr. Nguyen Duc Minh, Deputy General Director of Petrosetco, registered to buy 2 million shares from November 24 to December 23. The new move comes after two other shareholders of Petrosetco registered to sell millions of shares. General Director of Quang Ngai Sugar, Vo Thanh Dang, also recently registered to buy 1 million shares from now until December 15, after failing to buy in October due to the price not being as expected.
According to the head of investment consulting at a securities company in Hanoi, the fact that business leaders, especially those in the finance and banking group, have registered to sell their shares may be due to the fact that the trading restriction period for these shares has just expired. Large companies in the finance group often have an annual employee stock option plan (ESOP). These shares are often restricted from trading in the first year and partially unlocked in the following years.
"ESOP is also part of the employee benefits, and business leaders also need to realize profits when the limited time is over," the expert said.
Meanwhile, with some other transactions, the selling move may be due to changing expectations, new investment opportunities or assessing the prospects of the industry or business, unlike before.
The divestment move by relatives of the Chairman of Pomina Steel took place in the context that POM's stock price has fallen more than 42% from its peak in mid-July, after the company announced continued declines in business results.
The divestment of foreign shareholders from Mobile World also goes hand in hand with the decline in business results of the top retail company. In the third quarter, this company's after-tax profit was VND39 billion, down 96% year-on-year. Taking the profit of any quarter from the time the company announced information in the third quarter of 2013 to 2022, the figure is higher than the total accumulated profit in the three quarters of this year.
In a meeting with investors to inform them of the third quarter business results, Mr. Nguyen Duc Tai, Chairman of the Board of Directors of MWG, said that the departure of foreign investors and the sharp drop in stock prices could be seen as an opportunity, because any business will go through difficult times, challenging the confidence of investors.
Minh Son
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