Millions of Bamboo Capital shares of Mr. Nguyen Ho Nam were sold off

Securities company announced the sale of Bamboo Capital shares owned by Mr. Nguyen Ho Nam - former Chairman of Bamboo Capital.

KIS Vietnam Securities Company announces the sale of collateral securities of customers. Specifically, KIS Vietnam will sell 5 million BCG shares of Bamboo Capital Joint Stock Company owned by Mr. Nguyen Ho Nam. The implementation time is from March 3. The securities company notes that it can cancel the sale of collateral securities without public notice. The number of securities expected to be sold is an estimate at the time of information disclosure; the actual number of securities sold may be less or more due to changes in the value of collateral assets.

This morning (March 4), BCG shares continued to hit the floor price of 4,990 VND and there were still no buyers while the sell orders at the floor price were still over 81 million units. Investors are trying to flee Bamboo Capital shares after the company announced that Mr. Nguyen Ho Nam - former Chairman of the Board of Directors - had been prosecuted.

BCG's renewable energy project in Long An

PHOTO: BCG

Similarly, Bamboo Capital's subsidiary stocks also plummeted to the limit, including BCR of BCG Land Joint Stock Company down to VND3,300; BGE of BCG Energy Joint Stock Company down to VND4,200; TCD of Industrial and Transport Development Investment Joint Stock Company (Tracodi) plummeted to VND3,720.

According to Bamboo Capital's report, by the end of 2024, Mr. Nguyen Ho Nam was the largest shareholder, owning nearly 92 million BCG shares, equivalent to 10.42% of capital. In addition, Mr. Nam's mother and wife owned 0.01% and 0.98% of capital, respectively. Mr. Nam's related enterprise, MVN Company Limited, is also a major shareholder, holding 58 million BCG shares, equivalent to 6.6% of capital.

At the same time, many securities companies have also announced the removal of BCG shares from the list of permitted margin. For example, BIDV Securities Company announced the removal of BCG and TCD from the margin list from March 3 and the date of removal from the list for calculating collateral is March 4. KB Vietnam Securities Company announced that BCG shares will have their margin lending ratio adjusted from 20% to 0% from March 3; Yuanta Vietnam Securities Company also removed BCG and TCD from the margin list...