Thanh Cong Textile Company's leaders register to sell millions of TCM shares

Mr. Nguyen Van Nghia, member of the Board of Directors of Thanh Cong Textile - Investment - Trading Joint Stock Company (Thanh Cong Textile Company, stock code: TCM) has just sent a written report to the Ho Chi Minh City Stock Exchange (HOSE) about registering to sell 7 million TCM shares to reduce the ownership ratio.

If the sale is successful, Mr. Nghia will still hold 10.19 million TCM shares, his ownership ratio will decrease from 16.8% to 10%.

Notably, this is the first time Mr. Nghia has registered to sell a large amount of TCM shares since becoming a major shareholder of the company at the end of September 2020.

TCM stock hits 2-year peak Source: Fireant

This move took place in the context of TCM shares increasing sharply from the beginning of February 2024 until now, from the price range of VND 36,300/share to over VND 53,000/share. Compared to the beginning of 2024, this stock has increased by nearly 45%.

Provisionally calculating the closing price of TCM shares on July 11 at VND53,700/share, the estimated value of the above shares is about VND375.9 billion.

At the end of the first quarter of 2024, the company achieved net revenue of VND 934 billion, an increase of 6% over the same period last year and profit after tax of VND 62.1 billion, nearly VND 8 billion higher than the same period and the highest level since the fourth quarter of 2022.

As of the end of March 2024, the company had cash and cash equivalents worth VND 429 billion including short-term investments...

Source: https://nld.com.vn/co-phieu-leo-dinh-sau-2-nam-lanh-dao-cong-ty-det-may-muon-thoai-gan-nua-von-196240711200628441.htm