VPBank Chairman's son spends nearly 1,500 billion VND to buy 70 million shares

Vietnam Prosperity Joint Stock Commercial Bank ( VPBank – HoSE: VPB) has just announced the transaction of Ngo Chi Trung Johnny - son of Mr. Ngo Chi Dung, Chairman of the Board of Directors of VPBank.

Specifically, Mr. Ngo Chi Trung Johnny registered to buy 70 million VPB shares for investment purposes. The transaction is expected to be carried out between October 2 and November 2, 2023, by order matching and negotiation.

Before registering to buy, Mr. Ngo Chi Trung Johnny did not own any VPB shares. If the transaction is successful, Ngo Chi Trung Johnny will own 1.04% of charter capital at VPBank.

On the stock market, in the morning session of September 28, VPB code traded around 20,800 VND/share. Thus, the expected transaction value is about 1,460 billion VND.

VPB stock price movements in the past 6 months (Photo: TradingView).

VPBank Chairman Ngo Chi Dung's family currently owns a total of about 1.04 billion VPBank shares. The three people holding the most are Mr. Ngo Chi Dung with 328.6 million shares, Ms. Hoang Anh Minh - Mr. Ngo Chi Dung's wife owns 326.8 million shares and Ms. Vu Thi Quyen - Mr. Ngo Chi Dung's biological mother has 325.9 million shares.

In another development, VPBank implemented a plan to sell treasury shares under the 2023 employee stock option program (ESOP).

Accordingly, VPBank offered more than 30.2 million treasury shares to employees at VND10,000/share, equivalent to 0.448%. The total value at par value is more than VND302 billion.

The subjects eligible to buy shares are Vietnamese employees who meet the regulations on offering treasury shares under the employee stock option program. Non-executive members of the Board of Directors are not eligible to buy shares sold under the ESOP program.

In September 2023, the first 10 members of VPBank registered to buy more than 436,000 shares.

Regarding business activities, according to the audited consolidated financial statements for the 2023 mid-year, VPBank recorded net interest income of more than VND 18,296 billion, down 10.1% year-on-year; profit after tax reached approximately VND 4,102 billion, down 66.5% year-on-year.

With pre-tax profit in the first 6 months of 2023 reaching more than VND 5,162 billion, the bank has only completed 21.5% of the annual target of VND 24,003 billion .

Thu Huong

Source: https://www.nguoiduatin.vn/con-trai-chu-tich-vpbank-dang-ky-mua-70-trieu-co-phieu-vpb-a628581.html