Revealing the secretive businessman holding capital at ACB bank

ACB has just announced 2 institutional shareholders related to the chairman - Photo: ACB

Au Lac shareholder group holds capital of ACB bank

Asia Commercial Joint Stock Bank (ACB) has just announced information about shareholders owning 1% or more of charter capital. This is an updated list, after the bank first announced it at the end of July this year.

The supplementary list includes 5 more shareholders, including both organizations and individuals.

Of which, Giang Sen Investment and Trade Joint Stock Company holds more than 80.2 million shares, equivalent to nearly 1.8% of the bank's capital. However, people related to this company hold more than 5.1% of capital at ACB.

Next, Bach Thanh Investment and Trading Joint Stock Company holds more than 55.9 million ACB shares, equivalent to 1.25% of capital, and related parties hold 5.6% of capital at the bank.

According to the management report for the first 6 months of 2024, both Giang Sen and Bach Thanh are institutional shareholders related to Mr. Tran Hung Huy - Chairman of ACB's Board of Directors.

Mr. Huy holds a total of more than 153 million shares, equivalent to more than 3.42% of shares. All related shareholders, Mr. Huy holds more than 8.2% of ACB's capital.

In addition to the two businesses related to the ACB chairman, the updated list also includes another institutional shareholder, Thien Huong International Education Village JSC, which holds nearly 58.6 million ACB shares, equivalent to 1.3% of capital. A person related to this institutional shareholder holds more than 107.7 million shares, equivalent to 2.4% of ACB capital.

Thien Huong International Education Village Joint Stock Company is a company chaired and legally represented by Ms. Ngo Thu Thuy. This businesswoman is also chairwoman of Au Lac Joint Stock Company.

Nguyen Thien Huong Jenny or Nguyen Duc Hieu Johnny - the two remaining individual shareholders holding more than 1% of capital at ACB - are all children of Ms. Thuy.

Thus, the entire Au Lac shareholder group holds more than 3.7% of ACB's charter capital. It is estimated that based on the current market price of ACB shares, the shares owned by this shareholder group are worth more than VND4,000 billion.

Regarding Au Lac, this company operates in the inland waterway fuel transportation business, with total assets of nearly VND 2,550 billion at the end of June this year.

In the first 6 months of this year, Au Lac had revenue of nearly 800 billion VND, an increase of 55% over the same period, and profit after tax of nearly 172 billion VND, an increase of nearly 90%.

A series of "nearly big" supporters are about to appear at PGBank?

In compliance with the new regulations of the Law on Credit Institutions effective from July 1, Prosperity and Development Joint Stock Commercial Bank (PGBank - PGB) has sent a notice requesting the provision and public disclosure of information on shareholders owning more than 1% of the bank's charter capital.

According to PGBank's management report for the first 6 months of 2024, many leaders in the Board of Directors and Executive Board do not hold shares in the bank.

Like Mr. Pham Manh Thang - Chairman or Mr. Dao Phong Truc Dai - Vice Chairman, both have 0% ownership ratio. Similarly, Mr. Le Van Phu or Nguyen Trong Chien - Deputy General Director also do not hold capital in PGBank.

PGBank is one of the commercial banks with a concentrated ownership structure. At the end of June 2024, this bank had 3 major shareholders holding up to 40% of the bank's capital.

Specifically, Gia Linh Import-Export and Trade Development Company Limited holds more than 55 million shares, equivalent to 13.1% of capital.

Cuong Phat International Joint Stock Company holds nearly 56.88 million shares, equivalent to 13.54% of capital, while Vu Anh Trading Joint Stock Company holds 13.36% of capital, equivalent to 56.11 million shares.

All three major shareholders above appeared at PGBank after Petrolimex Group divested capital last year.

According to press reports, the leaders of Thanh Cong Group (TC Group) appeared at this year's shareholders' meeting of PGBank .

According to the bank's minutes, this year's General Meeting of Shareholders was attended by only 20 shareholders, representing more than 288.4 million voting shares, equivalent to 68.67% of the total number of voting shares. In the near future, when the bank publicly announces the list of shareholders holding more than 1% of capital, "nearly major" shareholders at PGBank will appear.

Previously, in April 2023, Petrolimex successfully auctioned 120 million PGB shares to 4 investors, including three organizations, the 3 above companies and one individual. The average purchase price was 21,400 VND per share. Currently on the market, the price of each PGB share is 17,200 VND, down 18% over the past year.

Source: https://tuoitre.vn/lo-dien-doanh-nhan-kin-tieng-nam-von-ngan-hang-acb-20240915212709774.htm