Stocks increase sharply, securities company boss 'races' to sell orders

Stocks up 160%, leaders want to sell 5.4 million shares

On September 15, Vietcap Securities (VCI) announced that Mr. Dinh Van Hoan, Deputy General Director, registered to sell 5.4 million shares. The expected transaction time is from September 20 to October 19 by negotiation or order matching.

If he sells all of the above shares, Mr. Hoan will only hold 100,134 shares, equivalent to 0.02% of charter capital at VCI.

At the end of the trading session on September 15, VCI shares reached a price of VND47,700/share. Based on the price on September 15, Mr. Hoan is expected to earn more than VND257 billion.

Mr. Hoan divested almost all of his VCI shares amid the stock's continuous increase since November 2022. VCI shares have increased by nearly 160% from the bottom price of VND 18,500/share in mid-November 2022.

Compared to the same period in 2022, VCI's revenue and pre-tax profit in the second quarter of 2023 decreased sharply. According to VCI's explanation, the reason for the decrease was due to the general impact of the market.

Specifically, in the second quarter of 2023, the transaction value on HoSE's floor decreased sharply compared to the same period last year (equivalent to a decrease of 45%), which caused brokerage revenue to decrease by VND 433 billion (equivalent to a decrease of 65%). In addition, the company assessed that the economic situation needed more time to recover, so it was quite cautious about its proprietary trading activities, leading to a sharp decrease in proprietary trading revenue compared to the same period last year.

At the end of the first 6 months of the year, VCI recorded operating revenue of more than VND1,000 billion, pre-tax profit of VND211 billion, down 46% and 76% respectively compared to the same period. With this result, VCI has only completed 31% of the annual revenue plan and 21% of the annual profit plan.

Series of leaders want to divest all capital

Last week, Saigon Hanoi Securities (SHS) also recorded that Mr. Luu Danh Duc, member of the Board of Directors, announced the sale of all 375,000 SHS shares, at a rate of 0.05% through order matching or negotiation. The expected transaction time is from September 13 to October 12, 2023.

At the end of the trading session on September 15, SHS shares reached 19,600 VND/share. Temporarily calculating at this price, Mr. Duc is expected to earn about 7.3 billion VND.

*SHS shares increase sharply, a series of leaders divest capital.*

Just within the period from late August to early September, SHS recorded a series of leaders at SHS registering to divest capital.

Specifically, Ms. Doan Thi Nhu Quynh, the person in charge of administration, registered to sell all 58,750 and Ms. Pham Thi Bich Hong, Head of the Supervisory Board, registered to sell all 355,299 SHS shares.

Before Ms. Quynh and Ms. Hong registered to sell, Mr. Nguyen Chi Thanh, Deputy General Director, announced that he had successfully sold all of the more than 1 million SHS shares he was holding.

SHS leaders simultaneously sold and registered to divest capital in the context that SHS shares still maintained their upward momentum. Not only that, the price of SHS shares has been steadily increasing from the bottom in mid-November 2022.

Thus, from the bottom price (VND 7,000/share), SHS shares have increased by 180%, and compared to the price at the beginning of 2023 (VND 8,900/share), the increase is 120%.

Regarding business performance, in the second quarter of 2023, SHS recorded revenue of VND 308 billion and pre-tax profit of VND 173 billion, a sharp increase compared to the previous quarter and the same period last year.

Accumulated for 6 months, SHS's pre-tax profit was nearly 225 billion VND, surpassing the loss of 86 billion VND in the same period in 2022.

Boss of 'big guy' wants to divest tens of billions of dong

Similarly, earlier this month, Ms. Vu Nam Huong, CFO and legal representative of VNDIRECT Securities (VND) registered to sell 728,000 shares by order matching or negotiation. The transaction is expected to take place from September 12 to October 10.

Based on the price of VND 24,000/share of VND stock at the end of the trading session on September 15, Ms. Huong is expected to earn about VND 17.4 billion.

VND shares have recorded a 116% increase from the bottom (VND11,100/share) in mid-November and a 67% increase compared to the price at the beginning of the year (VND14,300/share).

Regarding business performance, in the first 6 months of 2023, VND recorded operating revenue of VND 2,878 billion, down 20% year-on-year. The pressure of twice as high financial costs caused VND's profit in the first half of the year to be VND 561 billion, down 54% year-on-year.

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