The chairman of DIC Corp and his sister were notified by the securities company that their shares would be sold due to foreclosure.

MBS announced its plan to sell off a total of 823,100 DIG shares held by two members of the family of DIC Corp's leaders.

MBS announces forced sale of shares belonging to the chairman of DIC Corp starting December 16th - Photo: QUANG DINH

On December 16th, MB Securities Joint Stock Company continued to announce the forced sale of margin securities related to the leadership of the Development Investment Construction Corporation (DIC Corp).

The transaction is expected to take place from December 16th until payment obligations are fulfilled or the required margin ratio at MBS is restored.

Specifically, MB Securities plans to sell 589,400 DIG shares owned by Mr. Nguyen Hung Cuong - Chairman of the Board of Directors of DIC Corp.

Previously, on December 15th, the unit planned to sell 634,300 shares owned by Mr. Cuong.

MBS also announced plans to sell 233,700 DIG shares held by Ms. Nguyen Thi Thanh Huyen, Vice Chairman of the Board of Directors and sister of Mr. Cuong, through forced sale. The number of shares intended for sale, as announced on December 15th, is 301,500 shares.

Securities companies note that forced sales may not be carried out without public notice if the market value of the collateral changes or the account holder adds more assets to meet the margin requirement. The number of shares expected to be sold is estimated at the time of announcement; the actual number sold depends on changes in market price.

Thus, a total of 823,100 DIG shares belonging to two members of the DIC Corp leadership family are likely to be sold off due to margin calls.

The forced sale occurred amidst a continuous decline in DIG's share price since December 5th. During the morning trading session on December 16th, the stock briefly fell to 16,850 VND/share, its lowest level since mid-July. However, in the afternoon session on December 16th, the share price surged to 18,450 VND/share.

In April 2025, when DIG shares plummeted, many securities companies announced the forced sale of large quantities of shares belonging to the chairman of DIC Corp and related parties.

On December 5th, DIC Corp announced that in its offering of 150 million shares to existing shareholders, shareholders had paid for nearly 128.2 million shares. More than 21.8 million shares remain unsold.

Specifically, the DIC Group's office-based trade union purchased 2 million shares. Several individual investors bought 1-2 million shares each. The issue price was 12,000 VND per share.

According to the Q3 2025 financial report, the company recorded net revenue of over VND 1,766 billion for the first nine months, double the VND 869 billion recorded in the same period last year. After deducting expenses, the company's after-tax profit was nearly VND 200 billion, 13 times higher than the first nine months of 2024.

Net cash flow from operating activities improved from a negative figure of over VND 1,165 billion to over VND 811 billion in the first nine months of the year.

Force sell, simply put, is a situation where a securities company sells off some of an investor's shares in order to reduce the investor's debt ratio to a safe level as required by regulations.

The goal of forced stock sales is to ensure that both investors and securities firms do not suffer heavy losses when stock prices fall sharply.

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Source: https://tuoitre.vn/chu-tich-dic-corp-va-em-gai-bi-cong-ty-chung-khoan-thong-bao-ban-giai-chap-co-phieu-20251216152830165.htm