Shareholders worried when Phat Dat chairman registered to sell up to 88 million shares

(NLDO)- Chairman of Phat Dat registered to sell 88 million PDR shares right after the ceremony, making investors worried.

On August 29, right before the 4-day National Day holiday, Phat Dat Real Estate Development Corporation (Phat Dat - PDR) suddenly announced that Mr. Nguyen Van Dat, Chairman of the Board of Directors of the company, registered to sell 88 million PDR shares by negotiation. The expected transaction time is from September 5 to October 3.

If the transaction is completed, Mr. Dat's ownership of PDR will decrease from more than 359 million shares, accounting for 36.72% of charter capital, to 271 million shares, equivalent to 27.7%. This information immediately made shareholders and investors worried because the amount of shares Mr. Dat registered to sell was too large, calculated at market price of more than 2,000 billion VND.

Previously, in early June, Mr. Dat's son, Nguyen Tan Danh, registered to sell all 3.4 million shares he was holding. At that time, PDR was priced at 17,000-18,000 VND/share.

Or at the beginning of this year, Mr. Bui Quang Anh Vu, General Director of Phat Dat, also announced that he sold all his shares and no longer holds any shares.

Mr. Nguyen Van Dat, Chairman of Phat Dat Board of Directors

However, on the company's website, Mr. Dat explained that his sale of shares "may sacrifice short-term benefits, but in return, Phat Dat and shareholders will gain longer-term, more sustainable benefits." Because, the nature of this deal is a proactive choice.

However, the sale of shares by senior leaders, regardless of the plan, can make PDR investors worried, especially investors who are holding this stock.

On the stock exchange, PDR shares have increased sharply since the beginning of the year. At the close of trading on August 29, PDR shares were priced at VND24,550/share, up slightly by 0.61%. Based on this price, Mr. Dat will earn about VND2,100 billion after selling 88 million shares.

Source: https://nld.com.vn/co-dong-lo-lang-khi-chu-tich-phat-dat-dang-ky-ban-den-88-trieu-co-phieu-196250830092624631.htm