Cancellation of sale order of millions of shares of a woman related to VIB chairman Dang Khac Vy

In the session on October 31, Ms. Le Thi Hue - a person related to VIB Chairman Dang Khac Vy - sold more than 2.61 million VIB shares.

Mr. Dang Khac Vy - Chairman of VIB - shared at a shareholders' meeting - Photo: VIB

In an announcement on the evening of November 1, the Ho Chi Minh City Stock Exchange said it had removed the transaction of selling more than 2.61 million VIB shares (Vietnam International Commercial Joint Stock Bank) on October 31, 2024 by Ms. Le Thi Hue.

According to HoSE, Ms. Hue is related to Mr. Dang Khac Vy, Chairman of the Board of Directors of VIB. The reason for canceling the transaction is that Ms. Hue did not disclose information or report before the transaction.

On the bank's website on November 1, Ms. Le Thi Hue posted a report about registering to sell the exact number of shares as mentioned above.

Specifically, according to the report, Ms. Hue registered to sell 2.61 million VIB shares - equivalent to 0.1% of the bank's charter capital.

The reason Ms. Hue sold is due to personal financial needs. The expected time is from November 6 to December 5. If the sale is successful, Ms. Hue will no longer hold capital at VIB.

According to the management report for the first 6 months of 2024, Ms. Le Thi Hue is Mr. Dang Khac Vy's sister-in-law. Ms. Hue is required to report before the transaction.

In the list of shareholders holding more than 1% announced by VIB, Mr. Dang Khac Vy holds more than 125.5 million shares of this bank, equivalent to nearly 5% of charter capital. Meanwhile, people related to Mr. Vy hold more than 15.3% of VIB's capital.

Regarding VIB's recent stock fluctuations, the session on October 29 recorded foreign investors selling VIB shares with a total value of more than VND 5,400 billion.

In September 2024, VIB shares were also sold by foreign investors for nearly VND 2,700 billion.

Previously, at the 2024 extraordinary general meeting of shareholders held in June, VIB shareholders approved the proposal to reduce the foreign ownership ratio from 20.5% to 4.99%. The charter takes effect from July 1, 2024.

On the stock market, VIB's market price is VND18,850/share, down 5% after one month but up nearly 30% after one year.

Source: https://tuoitre.vn/huy-lenh-ban-hang-trieu-co-phieu-cua-mot-phu-nu-lien-quan-chu-tich-vib-dang-khac-vy-20241101205557892.htm