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

Mr. Dang Thanh Tam - Chairman of KBC, wanted to transfer ownership of more than 86 million KBC shares, worth more than VND 2,400 billion, to DTT Investment and Development Joint Stock Company but failed.

Mr. Dang Thanh Tam - Photo: KBC

In a report sent to the Securities Commission on December 25, Mr. Dang Thanh Tam - Chairman of the Board of Directors - said that he had not yet been able to transfer ownership of the KBC shares to contribute capital to DTT Investment and Development Joint Stock Company.

The reason given by the tycoon was "not completing the procedures at the competent authority".

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

With this deal, KBC's chairman wants to reduce his personal direct ownership stake from more than 138.66 million shares (equivalent to 18.06%) to more than 52.11 million (equivalent to 6.79%).

However, due to the unsuccessful transaction, Mr. Dang Thanh Tam has just registered to re-transfer the above shares to his own company. The expected transaction time is from January 2, 2025 to January 28, 2025.

Before 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 ratio of 11.27%.

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

On the stock market on the morning of December 26, KBC shares are adjusting to 27,850 VND.

It is estimated that with prices around this area, the shares Mr. Tam transferred to his private company are worth more than 2,400 billion VND.

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

A securities company leader said it is not uncommon for business leaders to transfer shares to their own companies. At the same time, this transfer of rights also helps leaders avoid personal income tax when receiving dividends, separating personal responsibility from the business...

Regarding the price movement of KBC shares, after a period of positive growth thanks to the cooperation deal with Donald Trump's family corporation, there has recently been a tendency to adjust.

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