Real estate company 'paralyzed' due to lack of money, chairman couple wants to sell all shares

PVR Hanoi is temporarily suspended because "the company does not have the funds to maintain operations" - Photo: AI drawing

Mr. Bui Van Phu - Chairman of the Board of Directors of PVR Hanoi Investment Joint Stock Company - has sent a notice to the State Securities Commission about registering to sell all of more than 2.7 million PVR shares - equivalent to 5.2% of the company's charter capital.

The expected trading time is from May 23 to June 2, for the reason of "restructuring the investment portfolio".

A few days ago, Ms. Tran Thi Tham, Mr. Phu's wife, also registered to sell nearly 12.5 million shares, equivalent to 24% of PVR Hanoi's charter capital.

Ms. Tham said the purpose of the transaction is to restructure the investment portfolio. The transaction method can be done through negotiation and order matching. The expected transaction time is from May 15 to June 13.

This is not the first time Mrs. Tham has wanted to withdraw all capital from her husband's company. Last year, she registered to sell a similar amount but failed due to lack of liquidity.

The "shutdown" of liquidity in this stock is not surprising, because near the end of last year, the board of directors of PVR Hanoi Investment Joint Stock Company decided to temporarily suspend business operations in 2025.

The period of temporary suspension of business operations lasts from January 1, 2025 to December 31, 2025.

Mr. Bui Van Phu said the reason for the temporary suspension was because "the company does not have the funds to maintain operations".

He added that the company needs to rearrange its staff and seek new solutions and directions of operation to overcome this difficult period.

Along with the decision to temporarily suspend business, PVR Hanoi also agreed to terminate operations at the transaction office location on To Huu Street, Ha Dong.

In 2023, this company also temporarily suspended business operations from November 15, 2023 to November 14, 2024.

PVR's business situation is very difficult. From 2022 to now, the company has not recorded any revenue. The small profit only comes from the reversal of securities investment provisions.

BINH KHANH

Source: https://tuoitre.vn/cong-ty-bat-dong-san-te-liet-vi-can-tien-hai-vo-chong-chu-cich-cung-muon-ban-sach-co-phieu-20250522074028356.htm