Phat Dat sells its entire stake in a subsidiary company worth over 1,408 billion VND.

(NLĐO) - The Board of Directors of Phat Dat Real Estate has approved the plan to sell all of its capital in its subsidiary, generating over 1,408 billion VND.

Phat Dat Real Estate Development Joint Stock Company (PDR) has just announced unusual information on the Ho Chi Minh City Stock Exchange (HoSE) regarding the sale of its entire stake worth over VND 1,408 billion in its subsidiary.

Specifically, the Board of Directors of PDR has just approved the policy for its subsidiary, Binh Duong High-Rise Building Investment and Development Joint Stock Company (Binh Duong High-Rise Building Company), to carry out two transactions related to Thien Long High-Rise Building Investment and Development Joint Stock Company (Thien Long Company).

Mr. Nguyen Van Dat is authorized by the Board of Directors to search for partners, negotiate, and sign contracts.

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Accordingly, Binh Duong High-Rise Building Company will purchase an additional 18.961 million newly issued shares of Thien Long Company, with a par value of VND 189.614 billion. Subsequently, all shares owned in Thien Long Company, including all currently held shares and the newly purchased shares—a total of over 140,839 shares, equivalent to a par value of VND 1,408.39 billion—will be transferred to a domestic or foreign investor. After the completion of the aforementioned share transfer transaction, Thien Long Company will no longer be a subsidiary of Phat Dat Company.

The Board of Directors authorized individuals including Nguyen Van Dat - Chairman of the Board, Bui Quang Anh Vu - General Director, and Tran Thi Huong - Representative managing the capital contribution and Chairman of the Board at Binh Duong Building Company, to carry out tasks related to the transfer transaction.

Reportedly, Thien Long Building Company is the investor of the Thuan An 1 high-rise complex project (formerly Thuan An - Binh Duong). The project covers an area of ​​approximately 1.8 hectares, with 39 floors and 3-4 basement levels, comprising nearly 2,700 apartments and shophouses.

Just last September, Phat Dat Real Estate Development Joint Stock Company also approved the plan to sell a portion of its stake in Thuan An 1 High-Rise Real Estate Investment Company Limited, a company in which Phat Dat contributed 99% of the capital, established in September 2025 with a charter capital of only 250 million VND, of which Phat Dat contributed 99%, equivalent to 247.5 million VND.

On a personal level, Mr. Nguyen Van Dat recently sold 88 million PDR shares, earning over 2.1 trillion VND, causing concern among many shareholders. After that transaction, Mr. Dat still owns 271.8 million units (27.7%).

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At the close of trading on November 3rd, Phat Dat's PDR shares fell sharply by 5.1%, to 21,300 VND per share.

Source: https://nld.com.vn/phat-dat-ban-toan-bo-von-cong-ty-con-tri-gia-hon-1408-ti-dong-19625110317380624.htm