Tycoon Dang Thanh Tam failed with the deal to transfer KBC shares worth 2,400 billion VND

Mr. Dang Thanh Tam, chairman of KBC, attempted to transfer ownership of over 86 million KBC shares, worth more than 2.4 trillion VND, to DTT Investment and Development Joint Stock Company but failed.

Mr. Dang Thanh Tam - Photo: KBC

In a report submitted to the Securities Commission on December 25th, Mr. Dang Thanh Tam - Chairman of the Board of Directors - stated that the transfer of ownership of the KBC shares to contribute capital to DTT Investment and Development Joint Stock Company has not yet been completed.

The reason given by the tycoon is that "the procedures at the competent authority have not yet been completed."

Previously, Mr. Tam registered to sell 86.55 million KBC shares between November 25 and December 24.

With this transaction, the chairman of KBC wants to reduce his personal direct shareholding from over 138.66 million shares (equivalent to 18.06%) to over 52.11 million shares (equivalent to 6.79%).

However, due to the unsuccessful transaction, Mr. Dang Thanh Tam has just re-registered to transfer the aforementioned block of shares to his private company. The expected transaction period is from January 2, 2025 to January 28, 2025.

Prior to the transaction, DTT Investment and Development Joint Stock Company did not hold any shares in KBC. Assuming the transfer goes smoothly, Mr. Dang Thanh Tam's company will become a major shareholder of Kinh Bac, with an ownership stake of 11.27%.

At the same time, Mr. Tam will reduce his direct ownership stake to 6.79% of the capital.

On the stock market this morning, December 26th, KBC shares are correcting to 27,850 VND.

Based on the current price range, the shares that Mr. Tam transferred to his private company are estimated to be worth over 2,400 billion VND.

Regarding DTT Investment and Development Joint Stock Company, its main business is real estate trading, and it was only established this year. Mr. Dang Thanh Tam is the controlling shareholder and also the director of this company.

A securities firm executive stated that it is not uncommon for business leaders to transfer shares to their private companies. This transfer also helps leaders avoid paying personal income tax on dividends, separating personal responsibility from the business...

Regarding KBC's share price movements, after a period of positive growth thanks to the partnership with Donald Trump's family corporation, it has recently shown a tendency to correct.

Source: https://tuoitre.vn/dai-gia-dang-thanh-tam-that-bai-voi-thuong-vu-chuyen-lo-co-phieu-kbc-2-400-ti-dong-20241226105627383.htm