Thanh Thanh Cong's daughter continues to register to sell TTC Land shares
Earlier, in July, Ms. Dang Huynh Uc My completed the sale of 70 million SBT shares of Thanh Thanh Cong - Bien Hoa Joint Stock Company - a major company within the Thanh Thanh Cong Group.
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| Following the transaction in July, Ms. Dang Huynh Uc My continues to register to sell SCR shares. |
Ms. Dang Huynh Uc My has registered to sell all 110,419 SCR shares, equivalent to 0.028% of the capital of Saigon Thuong Tin Real Estate Joint Stock Company – TTC Land, in order to restructure her investment portfolio.
The transaction is expected to be carried out from September 18th to October 17th, 2024, through negotiated transactions and/or order matching on the exchange. If the transaction is successfully completed, Ms. My will no longer be a shareholder of TTC Land.
Ms. Dang Huynh Uc My is the younger sister of Mr. Dang Hong Anh, Vice Chairman of the Board of Directors of TTC Land, and also the daughter of Ms. Huynh Bich Ngoc and Mr. Dang Van Thanh – the two founders of TTC Group. Since July 13th, Ms. My has been elected as the Chairwoman of the Board of Directors, replacing Ms. Huynh Bich Ngoc, at Thanh Thanh Cong – Bien Hoa Joint Stock Company – a large company within the Thanh Thanh Cong Group, listed on the HoSE stock exchange under the ticker symbol SBT. Prior to this, Ms. Dang Huynh Uc My served as Vice Chairman at TTC AgriS for many years.
In addition to the upcoming transaction, Ms. Dang Huynh Uc My has also just completed the sale of 70 million SBT shares as registered. The transaction took place from July 12th to July 26th, 2024. After the transaction, Ms. My's ownership in this sugar company decreased from 19.02% of the capital (nearly 145 million shares) to 9.84% (nearly 75 million shares).
According to information released regarding insider trading, Ms. My's securities holdings in listed companies within the system are still valued at over one trillion VND after a large transaction last July. Besides SCR Land and TTC AgriS, Ms. My also owns 922,261 GEG shares of Gia Lai Electricity Joint Stock Company, which is listed on the HoSE.
While Chairman Dang Huynh Uc My divested her stake, Legendary Venture Fund 1, a Singapore-based organization, has continuously increased its ownership in Thanh Thanh Cong's sugar business. This foreign shareholder purchased 32.45 million shares on July 19th, 28.35 million shares on July 22nd, and 5.7 million shares on July 25th. In total, the purchase volume reached 66.5 million shares, increasing its ownership to 16.48% of the capital. Legendary is a fund specializing in investing in promising businesses in the Asian region. Since 2018, the fund has consistently invested in SBT shares.
TTC Land recently filed a lawsuit against Hoa Binh House Joint Stock Company on August 16, 2024, to reclaim the land for the TTC Plaza Binh Thanh project (26 Ung Van Khiem Street, Ward 25, Binh Thanh District, Ho Chi Minh City).
Regarding business performance, according to the audited consolidated financial report for the first six months of the year, TTC Land's after-tax profit reached only 659 million VND, a decrease of over 88% compared to the self-prepared report (which reported a profit of 5.7 billion VND). Explaining the sharp decline in profit after the audit, the company stated that the reason was due to differences in tax calculation perspectives between the company and the auditing firm.
On the stock market, SCR shares are currently trading at around 5,400 VND per share, representing a 27% decrease compared to the end of last year.
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