According to the announcement, the sale of shares by Mr. Dang Thanh Tam, Chairman of the Board of Directors of Kinh Bac Urban Development Corporation, is expected to take place from September 9th to October 8th. Based on the current market price of 26,750 VND for KBC shares, the estimated value of the shares he registered to sell is approximately 2,315 billion VND.
This is a share transfer transaction in which Mr. Dang Thanh Tam contributed KBC shares to DTT Investment and Development Joint Stock Company. After the transaction is completed, Mr. Dang Thanh Tam will own 52.1 million KBC shares, equivalent to 6.79% of the capital.
Mr. Dang Thanh Tam transferred ownership of nearly 86.6 million Kinh Bac shares.
Conversely, DTT Investment and Development Joint Stock Company will become a major shareholder in Kinh Bac Corporation with an ownership of 11.3% of the capital. This is a company where Mr. Dang Thanh Tam is both the controlling shareholder and the director.
Besides Mr. Tam himself owning a large amount of KBC shares, the list of related parties currently includes Ms. Dang Nguyen Quynh Anh - Mr. Tam's daughter - who is also a member of the Board of Directors of Kinh Bac Corporation with a 1.74% ownership stake; and Vinatex - Tan Tao Investment Joint Stock Company, where Mr. Tam is the General Director, which owns 5.11% of KBC's capital.
In mid-June, Kinh Bac Corporation also announced that it would use KBC shares owned by Mr. Dang Thanh Tam as collateral to fulfill its debt repayment obligations for loans in 2024. The number of KBC shares to be used is expected to be 10 million. The collateral period will be calculated from the date the loans were issued (June 17th) until all loan repayment obligations are fully fulfilled.
KBC's consolidated financial report for the second quarter of 2024 shows that the company's net revenue reached nearly VND 892 billion and net profit was VND 237 billion, a decrease of 62% and 76% respectively compared to the same period last year. The company stated that the reason for this was the decrease in revenue from industrial park operations compared to the same period, meaning a decrease in the amount of land handed over in industrial parks.
For the first six months of 2023, Kinh Bac achieved revenue of VND 1,044 billion and after-tax profit of nearly VND 1,921 billion, representing decreases of 77% and 92% respectively compared to the first half of 2023.
Source: https://thanhnien.vn/ong-dang-thanh-tam-chuyen-quyen-so-huu-gan-866-trieu-co-phieu-kinh-bac-185240831155342949.htm
Comment (0)