Stock prices are high, leaders and relatives simultaneously 'sell off'

Van Phu - Invest Joint Stock Company (VPI) announced that Mr. To Nhu Thang, Vice Chairman of the Board of Directors, registered to sell 3.5 million shares between March 18 and 22, through negotiated transactions and order matching.

Currently, Mr. Thang holds over 14 million shares, equivalent to a 5.82% ownership stake. If he successfully sells these shares, his ownership stake in VPI will decrease to 4.38%, and he will no longer be a major shareholder.

If we temporarily calculate based on the VPI share price closing at 58,100 VND/share on March 14th (an increase of over 6% compared to the beginning of the year), Mr. Thang could earn nearly 205 billion VND.

In 2023, VPI recorded revenue of nearly VND 1,877 billion and net profit of over VND 509 billion, a decrease of 13% and 6% respectively compared to the previous year.

Similarly, Dong Hai Ben Tre Joint Stock Company (DHC) also announced that Mr. Nguyen Thanh Nghia, a member of the Board of Directors, registered to sell 2 million shares between March 18 and April 12, citing financial needs as the reason.

Mr. Nghia currently holds nearly 10.4 million shares, equivalent to a 12.9% ownership stake. If the transaction is successful, Mr. Nghia's ownership stake in DHC will be reduced to 10.42%.

Based on the current share price of 46,000 VND/share on March 14th, it is estimated that Mr. Nghia would earn over 88 billion VND if he sold all of his registered shares.

Previously, between February 16th and March 7th, Mr. Nghia also successfully sold 1 million shares, reducing his ownership stake from 14.14% to the current 12.9%.

Mr. Nghia's selling move comes as DHC shares have been on an upward trend since December 2023. As of the end of trading on March 14th, DHC shares had increased by 18%.

The market also witnessed executives and their relatives on the Board of Directors of Mobile World Investment Corporation (MWG) selling off their shares as the stock was on a upward trend, rising more than 40% in the past four months.

For example, Ms. Nguyen Thi Thu Tam, sister of Mr. Nguyen Duc Tai, Chairman of the Board of Directors, registered to sell 200,000 shares through order matching or negotiated transactions. The trading period is from March 14th to April 12th.

Previously, from February 20th to March 20th, Ms. Nguyen Viet Trieu, wife of Mr. Ngo Ha Bac, a member of the MWG Board of Directors, registered to sell 600,000 MWG shares, reducing her ownership stake from 0.246% to 0.217%.

Mr. Robert Alan Willett, a non-executive member of the Board of Directors of MWG, has registered to sell 1.2 million shares, reducing his ownership from 0.548% to 0.466%. The trading period is from February 27th to March 27th.

Business news

The stock market also has several other important events for companies listed on the exchange.

* VSH: Vinh Son - Song Hinh Hydropower Joint Stock Company plans to submit to the General Meeting of Shareholders a revenue plan of nearly VND 1,970 billion, a decrease of 24% compared to the previous year. The target after-tax profit is over VND 505 billion, approximately 50% of the 2023 performance.

* BAF: On March 12th, BAF Agriculture Joint Stock Company put into operation two green farm clusters, including the Hai Dang High-Tech Pig Farm Cluster and the Tan Chau High-Tech Pig Farm.

* CC1: Construction Corporation No. 1 has withdrawn all capital from the Tan Van commercial housing project after one year of investment.

* GGG: On March 8th, Mr. Nguyen Ha Duc became a major shareholder of Giai Phong Automobile Joint Stock Company after purchasing over 1.8 million shares, increasing his ownership stake from 2.71% to 8.85%.

* HGM: Ha Giang Mechanical and Mineral Joint Stock Company continues to register to sell all of its nearly 1.2 million KHD shares of Hai Duong Mineral Exploitation and Processing Joint Stock Company after two consecutive unsuccessful attempts. The transaction is expected to take place from March 14th to April 13th.

* VIX: VIX Securities Joint Stock Company will present to the 2024 Annual General Meeting of Shareholders a proposal to pay a stock dividend at a rate of 10% and bonus shares to shareholders at a rate of 10%. The total percentage of shares received by shareholders will be 20%.

* VNL: On March 20th, Vinalink Logistics Joint Stock Company (VNL) set the ex-dividend date for attending the 2024 annual general meeting and paying the second dividend for 2023 in cash at a rate of 7%. VNL expects to make the payment on April 16th.

* CCM: Can Tho Mineral and Cement Joint Stock Company will finalize the list of shareholders attending the 2024 annual general meeting and pay an interim dividend for 2023 in cash at a rate of 20%. The ex-dividend date is March 29th. CCM plans to hold the annual general meeting on April 27th. The dividend payment is expected to be made on May 30th.

* ACB: Asia Commercial Bank (ACB) has just announced the documents for its 2024 annual general meeting, scheduled to take place on April 4th, with a profit target of VND 22,000 billion, a 10% increase compared to the previous year.

VN-Index

At the close of trading on March 14th, the VN-Index fell 6.25 points (-0.49%) to 1,264.26 points, the HNX-Index rose 1.48 points (+0.62%) to 239.68 points, and the UpCOM-Index increased 0.09 points (+0.1%) to 91.62 points.

According to SHS Securities, from a short-term perspective, the market's strong recovery and fluctuations on March 14th were normal movements. Although in the short term, the VN-Index may continue to rise to the strong resistance level of 1,300 points.

However, the previous surge above 1,250 points is not yet reliable, so the risk of unusual market volatility is high. SHS believes that after the bullish momentum ends, the VN-Index will correct back within the 1,150-1,250 point range.

According to Tan Viet Securities (TVSI), the renewed decline in points is partly due to the impact of the leading sector, banking, as this sector has not yet finished its correction after a period of strong growth.

TVSI expects the index to maintain its current upward momentum. In the final trading session of the week, the index is expected to stabilize and form a new accumulation zone.

Shares surge, chairman's sister registers to sell . Amidst a more than 40% surge in MWG shares from their lows, the sister of Chairman Nguyen Duc Tai and other leaders and family members of leaders at Mobile World Group have registered to sell millions of shares.

Source