Sister-in-law of Ms. Dang Hoang Yen was fined 1 billion VND for illegally selling stocks.

Ms. Nguyen Thi My Hanh has just been fined 1 billion VND by authorities for illegally trading over 6.4 million ITA shares.

Ms. Nguyen Thi My Hanh is the sister-in-law of Ms. Dang Thi Hoang Yen - Chairwoman of the Board of Directors of ITA, and the wife of Mr. Dang Quang Hanh, Vice Chairwoman of the Board of Directors of ITA.

According to the State Securities Commission, Ms. Hanh engaged in multiple clandestine stock transactions. Specifically, she bought over 1.1 million shares and sold nearly 4.7 million ITA shares of Tan Tao Investment and Industrial Joint Stock Company in June 2022. Subsequently, in July 2022, Ms. Hanh also sold 88,000 shares, and in September 2022, she continued to sell 520,000 ITA shares.

Therefore, the authorities decided to fine Ms. Hanh 1 billion VND and impose an additional penalty of suspending her transactions for 3.5 months.

The clandestine sale of ITA shares helped Ms. Hanh avoid the sharp decline in ITA stock prices. In June 2022, ITA shares fluctuated between 7,180 and 12,750 VND per share. By November 2022, the stock had fallen to just over 2,000 VND per share. Currently, the stock has rebounded to 6,270 VND in the trading session on January 25th.

According to ITA's 2023 semi-annual management report, Ms. Dang Thi Hoang Yen holds 54.35 million shares (5.79%). Mr. Dang Thanh Tam (Ms. Yen's brother) holds 29.06 million shares (3.1%). Mr. and Mrs. Hanh no longer hold any shares.

In the first nine months of the year, ITA's revenue reached VND 332.7 billion, a decrease of 28.8% compared to the same period last year; after-tax profit reached nearly VND 115 billion, a decrease of 25% compared to the same period in 2022.

Hong Chau

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