In six months, CEO of Quang Ngai Sugar Company registered to buy shares 7 times.

Mr. Vo Thanh Dang has just registered to buy 1 million shares of Quang Ngai Sugar Joint Stock Company (QNS) for investment. This is the 7th time since the beginning of the year that Mr. Dang has registered to trade shares.

In a notice sent to the Hanoi Stock Exchange, Mr. Vo Thanh Dang - Vice Chairman of the Board of Directors and General Director of Quang Ngai Sugar Joint Stock Company (stock code: QNS) announced that he would buy 1 million shares during the period from July 22 to August 20. Mr. Dang plans to carry out this transaction by negotiation and order matching, for investment purposes.

According to the current value of QNS on UPCOM is 49,000 VND, the estimated volume of shares Mr. Dang bought is worth 49 billion VND. If successful, the leader of Fami milk company will increase his personal ownership ratio at Duong Quang Ngai from 8.69% (31 million shares) to 8.97% (32 million shares).

Since the beginning of the year, Mr. Dang has registered to buy QNS shares 7 times. Of these, 6 times he registered to buy 1 million units and most of the transactions were unsuccessful. The reason for not buying all the registered shares was "due to unsuitable market conditions".

Previously, Quang Ngai Sugar issued more than 10.7 million ESOP shares (3% of total outstanding shares) to employees at a price of VND26,377, half the market price on UPCoM. Mr. Dang was on the list of leaders who registered to buy and completed the collection of 958,000 shares. The transaction value accordingly reached more than VND25.2 billion.

Quang Ngai Sugar said the capital raised from this issuance was about VND282 billion, which was used to supplement working capital. After the issuance, the company's charter capital increased from VND3,569 billion to VND3,676 billion.

The issued shares will be restricted from transfer for 3 years. If during the restricted transfer period the employee leaves the company, the company union will buy them back at the issue price.

In an analysis report published in mid-June, a group of experts from Mirae Asset Vietnam Securities Company projected QNS's target price for the next 12 months at VND57,700. The analysis group believes that QNS's growth momentum comes from its leading position in the soy milk segment, limited domestic sugar supply, and attractive dividend policy.

This year, Quang Ngai Sugar aims to record revenue of VND9,000 billion and after-tax profit of VND1,341 billion, down 14.5% and 38.5% respectively compared to last year. However, according to Mirae Asset Vietnam, the company is likely to record revenue of VND10,579 billion, up 5.6% year-on-year, and net profit of VND2,307 billion, up 6% year-on-year.

This result comes from the revenue contribution of VND4,276 billion from the sugar segment and VND4,243 billion from the soy milk segment. Gross profit margin is expected to decrease by 32.8% compared to the same period due to the expected decline in sugar prices.

On the stock exchange, QNS shares have increased by 15% compared to the price at the beginning of the year (42,710 VND) to 49,100 VND. Market capitalization is currently at 17,526 billion VND.

Source: https://baodautu.vn/nua-nam-ceo-cong-ty-duong-quang-ngai-dang-ky-mua-co-phieu-7-lan-d220421.html