Mr. Dang Thanh Tam registered to sell 25 million SGT shares, who is the buyer?

According to the announcement from the Ho Chi Minh City Stock Exchange, Mr. Dang Thanh Tam registered to sell 25 million SGT shares, reducing his ownership from 35 million shares (accounting for 23.7% of capital) to 10 million shares (accounting for 6.8% of capital). The transaction will be carried out by order matching or negotiation, expected to take place from May 6 to June 4.

It is estimated that at the current price of SGT shares at 11,750 VND, if Mr. Dang Thanh Tam sells all 25 million registered shares, he will earn nearly 294 billion VND.

Mr. Dang Thanh Tam registered to sell 25 million SGT shares.

Notably, at the same time Mr. Dang Thanh Tam registered to sell, another internal shareholder of Saigontel, DTT Development Investment Joint Stock Company - a company where Mr. Tam is also Chairman of the Board of Directors - registered to buy 25 million SGT shares (equivalent to 16.9% of capital). The method of implementation is by order matching or agreement. Currently, this company does not own any shares in SGT.

According to documents prepared for the 2024 General Meeting of Shareholders, Saigontel's revenue in 2023 was VND 1,390 billion, equal to 47.6% of the annual plan, and pre-tax profit reached VND 76.2 billion, down more than 29% compared to 2022 and equal to 18.5% of the annual plan. By the end of 2023, the company had an accumulated profit of more than VND 209.2 billion. However, Saigontel said that with its 2024 business plan, the company will implement large projects as well as continue to seek investment opportunities in potential projects, so the capital demand is very large. Therefore, the Board of Directors submitted to shareholders for approval a plan to retain all accumulated profits for reinvestment and supplementing working capital.

The company plans to achieve a revenue of VND4,000 billion and a pre-tax profit of VND450 billion in 2024, 3 and 6 times higher than in 2023, respectively. The focus is still on industrial park real estate, urban real estate, telecommunications and petroleum services. If completed, this will be a record high business result for this unit.

Source: https://thanhnien.vn/ong-dang-thanh-tam-dang-ky-ban-ra-25-trieu-co-phieu-sgt-ai-la-nguoi-mua-18524043008333083.htm