Chairman of the Board of Directors of LDG Corporation sold 2.61 million shares

LDG Investment Joint Stock Company (LDG) has just announced that Mr. Nguyen Khanh Hung, Chairman of the Board of Directors of this company, has sold 2.61 million LDG shares. The transaction was completed on August 15, in the form of order matching. After this transaction, the number of LDG shares that Mr. Hung holds is only 7.46 million shares, accounting for 2.91%.

LDG is considered a company with assets and a fairly large land fund across the country, but in the recent difficult economic and real estate period, the company's operations were ineffective. Specifically, the revenue in the second quarter of 2023 was just announced at only 300 million VND, a loss of 74 billion VND, increasing the net loss in the first 6 months of the year to more than 144 billion VND. This is the third consecutive quarter that LDG has reported a loss.

In addition, after two unsuccessful 2023 shareholders' meetings, LDG's Board of Directors approved the decision to hold the third meeting on August 21. Previously, the first and second meetings of this enterprise could not take place due to insufficient participation rates according to regulations.

According to the congress documents, LDG aims to achieve 1,448 billion VND in net revenue, 5.2 times higher than the 2022 result, with after-tax profit reaching 3.9 billion VND.

It is worth noting that LDG is a company with large assets. As of June 30, 2023, LDG's total assets were approximately VND 8,000 billion. Mainly receivables (from related parties, transfer deposits, collateral deposits, investment cooperation) and inventories.

LDG's liabilities as of the end of the second quarter of 2023 are nearly VND 4,809 billion, mainly other short-term and long-term payables.

According to the plan, the company will continue to hand over houses to customers at the Saigon Intela smart apartment complex in South Saigon; open for sale the LDG Sky luxury apartment project; issue shares to pay dividends, increasing charter capital to nearly VND 2,570 billion, etc.

Source: https://nld.com.vn/kinh-te/chu-tich-hdqt-cong-ty-cp-ldg-da-ban-261-trieu-co-phieu-20230816174525221.htm