Bao Viet Securities (BVSC) has just announced the sale of mortgaged securities of customers who are related parties of insiders for Apax Holdings (IBC) shares owned by Egroup Education Corporation.
Specifically, this securities company plans to sell 15 million IBC shares, equivalent to about 18% of Apax Holdings' capital. The expected transaction time is from June 22 to July 12. The transaction method is through order matching or negotiation.
Previously, Mirae Asset Vietnam Securities (MAS) and Bao Viet Securities sold more than 13 million Apax Holdings shares. Due to the large number of shares being sold, Egroup's ownership has rapidly decreased from nearly 49.7 million shares (59.76%) to nearly 36.7 million shares (44.11%).
This ratio makes Egroup no longer the parent company at Apax Holdings (unless Egroup proves that it still controls the Board of Directors).
In addition to Egroup, Chairman of the Board of Directors Nguyen Ngoc Thuy also had 1.56 million IBC shares sold for mortgage at the end of last year, thereby reducing his ownership to 5.1 million units, equivalent to holding 6.17% of Apax Holdings' capital.
As for IBC stock, this stock code has been transferred from controlled to restricted trading by HoSE since May 23. Investors can only trade this stock in the afternoon session of the trading day. At the end of the session on June 21, IBC's market price reached VND2,580/share.
Apax Holdings business situation.
The company said it is working with auditors to complete the document as soon as possible, and committed to disclosing information immediately after release.
Apax Holdings also confirmed that it will disclose information in its 2022 annual report and first-quarter self-prepared financial report in accordance with regulations. The company also promised to strictly comply with regulations on publishing 2023 financial reports on time in 2024.
Apax Holdings is behind the Apax Leaders English center chain, Igarten kindergarten system, Firbank Australia inter-level school... This is the only company in Mr. Nguyen Ngoc Thuy's Egroup ecosystem that is listed on the stock exchange.
Recently, Apax Leaders has been involved in many scandals related to teaching quality, late salary payment, teacher salary arrears... Regarding solutions and debt repayment/debt settlement deadlines for investors, Mr. Thuy said that in the most positive scenario, the time when Egroup can start paying off debt to investors will be 3-5 years from now. During this time, the company is still looking for products such as real estate, household appliances... for investors to settle debt.
In 2022, the company that owns the Apax English English center chain achieved net revenue of VND 1,336 billion , an increase of 35% compared to 2021. However, Apax Holdings reported a loss after tax of more than VND 81 billion , a record loss in the company's history of operations.
(Source: Zing News)
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