Chairman withdraws all capital, Hoang Quan real estate shares trade at a high rate

In the trading session of August 7, HQC shares of Hoang Quan Real Estate Trading and Services Consulting Joint Stock Company continued to increase sharply, even reaching the ceiling at times. Notably, the liquidity of the shares also reached a record of over 56 million units. The transaction increased quite unexpectedly despite the fact that the company's chairman would divest all capital.

Specifically, according to the announcement, from August 9 to September 7, Mr. Truong Anh Tuan - Chairman of the Board of Directors will start selling the shares he owns in the company. Specifically, according to the registration, Mr. Tuan will sell all 16.3 million HQC shares. Temporarily calculating at the price of around VND 5,000, the Chairman of HQC can earn about VND 81 billion if he sells all the registered shares.

HQC shares have sudden liquidity after the chairman announced divestment

Notably, during this time, Hoang Quan Group Company Limited, a related organization of Mr. Truong Anh Tuan, also registered to sell all 3 million HQC shares to reduce ownership from 0.65% to 0% of charter capital. Based on the above price, this share sale deal is worth about 15 billion VND.

At the end of May, Ms. Nguyen Thi Dieu Phuong, Vice Chairwoman of the Board of Directors - wife of Mr. Truong Anh Tuan, also sold all 18 million HQC shares. It is not clear what the move to divest all capital by Chairman Hoang Quan and related people is because the purpose of the announcement is only to restructure the investment portfolio.

At the 2023 annual meeting held in April, Mr. Truong Anh Tuan also said that by 2024, HQC's stock price could return to par value (VND 10,000/share). HQC's book value is more than VND 9,000/share, while the current reasonable price is VND 5,000/share, so the market price is a bit cheap compared to the company's value.

In the financial report for the second quarter of 2023, the company recorded net revenue of VND 103 billion, down 29% and profit after tax of more than VND 1.2 billion, down 87% compared to the second quarter of 2022. In the first 6 months of this year, Hoang Quan recorded total revenue of VND 147 billion and profit after tax of VND 2.2 billion, down 38% and 85% respectively compared to the first 6 months of 2022.

Source: https://thanhnien.vn/chu-tich-thoat-het-von-co-phieu-dia-oc-hoang-quan-giao-dich-khung-18523080713502604.htm