Singer Khanh Phuong and his wife are planning to withdraw all capital from Song Da 1.01 (SJC)
Singer Khanh Phuong and his wife were once involved in a scandal surrounding the purchase and resale of SJC shares of Song Da 1.01 Company many times. Up to now, the incident continues to attract attention when singer Khanh Phuong is planning to sell all of his shares in the company.
Accordingly, Mr. Pham Khanh Phuong, aka singer Khanh Phuong, a member of the Board of Directors of Song Da 1.01 Joint Stock Company, has registered to sell all 908,476 SJC shares, corresponding to a 13.1% ownership ratio. The transaction is expected to take place from August 7, 2023 to August 31, 2023.
With the current market price, SJC shares are trading at 10,800 VND/share, singer Khanh Phuong is expected to earn 9.8 billion VND if the transaction is completed.
Singer Khanh Phuong is planning to withdraw all capital from Song Da 1.01 (Photo TL)
In June, singer Khanh Phuong also sold a large amount of SJC shares to reduce his ownership ratio to a very low level. Specifically, on June 16, 2023, singer Khanh Phuong sold 901,000 SJC shares, reducing his ownership ratio from 26.1% to only 13.1%. In this transaction, singer Khanh Phuong is estimated to have earned about 12.5 billion VND.
In another development, Song Da Nhat Nam Group Joint Stock Company, a unit related to Mr. Khanh Phuong's wife, Ms. Vu Thi Thuy, is also preparing to divest from Song Da 1.01. Ms. Vu Thi Thuy is currently the Chairwoman of the Board of Directors of both Song Da 1.01 and Song Da Nhat Nam.
On July 28, 2023, this unit sold 465,200 SJC shares. Up to now, Song Da Nhat Nam continues to register to sell all 255,800 SJC shares, expected to trade from August 4, 2023 to August 25, 2023, earning an estimated VND 2.8 billion.
Before selling all SJC shares, how did singer Khanh Phuong secretly trade SJC shares?
Regarding his transactions at Song Da 1.01, singer Khanh Phuong was once fined 245 million VND by the State Securities Commission for having "illegal" transactions with the code SJC.
Along with that, this singer had to explain his transactions, from which the role of the tycoon's wife related to Song Da 1.01 began to be revealed.
According to the announcement of the State Securities Commission, singer Khanh Phuong started buying SJC shares from June 23, 2022. On October 14, 2022, Mr. Phuong continued to buy SJC code, increasing his ownership to 385,800 shares, equivalent to 5.56% of charter capital. Owning more than 5% of shares means that singer Khanh Phuong has become a major shareholder, but the above information at that time was not reported to HNX.
In the last 2 weeks of October, singer Khanh Phuong continuously bought more SJC shares and collected a large amount of shares equivalent to 45.5% of charter capital.
By November 25, 2022, singer Khanh Phuong had sold half of his shares to his wife, Ms. Vu Thi Thuy. After this transaction, Mr. Phuong held 1.603 million shares, equivalent to 23.12% of charter capital. Ms. Thuy held 1.631 million shares, equivalent to 23.52% of charter capital. Coincidentally, during this period, SJC code also continuously increased in price.
On December 9, 2022, singer Khanh Phuong bought a small amount of SJC shares, increasing his ownership to 1.682 million shares. On December 23, 2022, Mr. Phuong continued to buy 100,000 shares and then sold 21,800 SJC shares. Both of these transactions were not publicly offered.
By March 31, 2023, Ms. Vu Thi Thuy had transferred all of her shares to Nam Nhat Khang Investment Company and Song Da Nhat Nam Group Joint Stock Company. On June 16, 2023, singer Khanh Phuong also sold 901,520 SJC shares and revealed her relationship with the chairman's wife.
Losing business, Song Da SJC's stock continues to "draw Christmas trees", shocking price increases, deep price decreases
Regarding the business situation of Song Da 1.01, this unit recorded unremarkable revenue with symbolic profits in the years. Even in the most recent year 2022, Song Da 1.01 only achieved revenue of 6.8 billion VND, with a loss after tax of 5.3 billion VND.
With such poor business results, SJC shares still continuously increase and decrease in price abnormally.
SJC shares continuously "draw Christmas trees" despite business losses (Photo TL)
Since June 2022, coincidentally when singer Khanh Phuong started participating in SJC's Board of Directors, this stock has only been trading at around VND 1,400/share. After 6 months of trading, despite poor business results, SJC reached its peak of VND 17,900/share on December 26, 2022. Thus, SJC shares have increased in price 12.8 times in just 6 months.
After this period, SJC dropped sharply to VND 4,600/share on March 20, 2023, equivalent to a 74% loss in just the next 3 months. The company's business situation was also not outstanding during this period.
After that, SJC shares increased again, reaching a peak of VND 15,700/share on June 19, 2023. This mid-June period was also the time when singer Khanh Phuong sold a large amount of shares and revealed his relationship with his rich wife. Up to now, as of August 8, 2023, the SJC code has dropped to only VND 10,800/share. Singer Khanh Phuong and his wife's related company are also registering to sell all SJC shares.
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