'Big guys' race to dump stocks

Ms. Nguyen Thi Dieu Phuong, Vice Chairwoman of the Board of Directors of Hoang Quan Real Estate Trading and Services Consulting Joint Stock Company (stock code HQC) registered to sell almost all of her 18.19 million shares (about 3.82% of charter capital) and retain 6 odd shares. The transaction is expected to be carried out during the period from May 17 to June 11, by order matching on the stock exchange and/or negotiation. The purpose of the transaction is announced to serve personal financial planning.

Ms. Dieu Phuong is the wife of Mr. Truong Anh Tuan, Chairman of the Board of Directors of HQC; sister-in-law of two members of the Board of Directors, Mr. Truong Thai Son; and mother of Ms. Truong Nguyen Song Van, Deputy General Director of the company. HQC shares have recovered strongly in recent months. However, after information about Ms. Dieu Phuong's registration to sell, HQC code turned around and decreased slightly and is still around 4,700 VND.

The stock market is trading quite low but many business leaders and major shareholders are racing to sell.

Similarly, from today, May 17 to June 15, GEX Investment Company Limited, a major shareholder of Gelex Group Corporation, registered to sell all 33.27 million GEX shares (3.91%) for the purpose of restructuring its investment portfolio. Gelex Investment Company is an organization related to Mr. Nguyen Van Tuan - General Director of Gelex Group. Specifically, the owner of the controlling stake in GEX Investment Company is Mr. Tuan's biological mother. Previously, GEX Investment Company also completed the sale of 80 million GEX shares for the purpose of restructuring its investment portfolio.

Meanwhile, Mr. Nguyen The Tai, Vice Chairman of the Board of Directors and General Director of Bamboo Capital Group Joint Stock Company, registered to sell 6 million BCG shares from May 15 to June 13, by order-matching transactions on the stock exchange or by negotiation. If the transaction is successful, the amount of BCG shares he holds will decrease from 15.22 million units (2.85%) to 9.22 million units (1.73%). BCG stock price has been on an upward trend for over a month and is currently at VND8,750/share, up nearly 40% compared to the end of 2022.

Another unit, Nam Long Investment Corporation (stock code NLG), announced that Mr. Nguyen Xuan Quang - Chairman of the Board of Directors - registered to sell 2 million NLG shares for personal financial restructuring purposes. The transaction is expected to be carried out during May 19 - June 17, by order matching on the floor or by negotiation. If the transaction is successful, Mr. Quang's ownership will decrease from 46.45 million units (12.09%) to 44.45 million units (11.57%).

Over the past month, several other Nam Long leaders have also completed the sale of hundreds of thousands of NLG shares. Specifically, Mr. Van Viet Son, CEO of Nam Long Land, sold 100,000 shares in mid-May; Mr. Cao Tan Thach, a member of the company's Board of Directors, sold 331,000 shares out of 413,400 registered shares (equivalent to 80% of the registered number) from April to early May...

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