Husband in jail, wife wants to divest
Cotana Group Corporation (CSC) has just announced that Ms. Huynh Thi Mai Dung, wife of Vice Chairman of the Board of Directors Nguyen Do Lang, has registered to sell 1 million shares for personal investment purposes. The transaction is expected to be carried out by negotiation and order matching from August 28 to September 26.
Ms. Dung is currently a major shareholder holding more than 5.1 million shares, equivalent to 16.57% of capital at Cotana. Meanwhile, Mr. Lang only owns 23,115 shares (0.07%).
CSC shares fell 13% from the peak of VND40,500/share in early August. At the end of the trading session on August 25, CSC shares reached VND35,200/share.
At the current price, Ms. Dung can earn about 35 billion VND from the above transaction.
At the end of the second quarter of 2023, Cotana recorded VND 562 billion in revenue, down 83% year-on-year. After deducting expenses, Cotana's after-tax profit reached VND 10.7 billion, down 92% year-on-year.
In the first 6 months of 2023, Cotana recorded revenue of 187 billion VND, and profit after tax of nearly 40 billion VND, down 78% and 84% respectively over the same period last year.
On June 23, Nguyen Do Lang and three other defendants were prosecuted and detained by the police investigation agency for the crime of "stock market manipulation" occurring at Asia-Pacific Securities Corporation (APS), Asia-Pacific Investment Corporation (API) and IDJ Vietnam Investment Corporation (IDJ).
VNG founder divests nearly 1 million shares
During the week, the market recorded transactions of nearly 1 million VNZ shares of VNG Corporation founder Le Hong Minh.
According to the Hanoi Stock Exchange (HNX), Mr. Le Hong Minh, member of the Board of Directors and General Director of VNG, has completed the sale of 983,783 previously registered shares by negotiation.
Meanwhile, in the opposite direction, BIGV Technology JSC bought 983,783 VNZ shares to increase ownership from 17.84% to 21.26% of charter capital.
If calculated according to the closing price on August 22, VNZ shares reached 1,135 million VND/share, it is estimated that General Director Le Hong Minh has earned up to 1,116.6 billion VND. After the transaction, Mr. Minh currently owns more than 2.5 million VNZ shares, equivalent to 8.85% of charter capital.
At the end of the second quarter of 2023, VNG's net revenue reached VND2,246 billion, up 12% over the same period. Profit after tax reached VND50 billion, while in the same period, it lost nearly VND380 billion. VNG returned to profit in the last quarter, after 6 quarters of losses.
In the first 6 months of the year, VNG's accumulated revenue reached 4,098 billion VND, up 12% compared to the first half of last year. VNG's after-tax loss was nearly 40 billion VND after 6 months, significantly reduced from the loss of nearly 510 billion VND in the same period.
Mr. Le Hong Minh founded VNG in 2004 and is one of the pioneers in the technology field in Vietnam.
In early 2023, VNZ shares witnessed a meteoric rise with 13 consecutive ceiling price sessions on the UpCom floor, from VND 240,000/share to a historical peak of more than VND 1,300,000/share.
At the end of the trading session on August 25, VNZ shares reached 1,241 million VND/share.
Nhat Viet Securities leaders buy 7 million shares
While business leaders and relatives sold millions of shares, in the afternoon, Mr. Tran Anh Thang, Vice Chairman of the Board of Directors and General Director of Nhat Viet Securities Joint Stock Company (VFS), completed the purchase of 7 million shares from August 16 to 21.
With the above transaction results, Mr. Thang owns up to 15.6 million shares, equivalent to 13.01% of charter capital.
Based on the average price of VFS shares during the trading period, it is estimated that Mr. Thang spent about 189 billion VND to complete the above deal.
Currently, VFS's shareholder structure also includes Amber Capital Holdings JSC, with Mr. Thang as legal representative and Chairman of the Board of Directors, holding 8.8 million shares, equivalent to 7.33% of charter capital.
Thus, the number of shares held by Mr. Thang and related parties after the transaction is more than 24.4 million shares, equivalent to 20.34%.
Mr. Thang purchased the above number of shares in VFS's private offering in 2023. With 39.75 million shares offered, VFS will supplement capital for securities margin lending operations, in order to increase competitiveness, expand the market, increase brokerage market share and supplement capital for proprietary trading activities.
Up to now, VFS has not yet had a consolidated financial report for the second quarter of 2023. Meanwhile, at the end of the first quarter, VFS achieved pre-tax profit of more than VND 8.2 billion, a slight decrease compared to the same period in 2022.
At the end of the trading session on August 25, VFS stock price reached VND 26,100/share, up 26% compared to the price 2 months ago.
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