Phat Dat sells all capital of subsidiary worth more than 1,408 billion VND

Phat Dat Real Estate Development Corporation (PDR) has just announced unusual information on the Ho Chi Minh City Stock Exchange (HoSE) about selling all capital worth more than VND1,408 billion at its subsidiary.

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

Bất động sản Phát Đạt bán bán toàn bộ vốn công ty con trị giá hơn 1.400 tỉ đồng - Ảnh 1. — Mr. Nguyen Van Dat is authorized by the Board of Directors to search for partners, negotiate and sign contracts.

Accordingly, Binh Duong Building Company will purchase more than 18,961 million newly issued shares of Thien Long Company, with a par value of 189,614 billion VND. Then, transfer all shares owned at Thien Long Company, including all shares currently owned and shares to be purchased. That is, a total of more than 140,839 shares, equivalent to a par value of 1,408.39 billion VND, to domestic or foreign investors. After completing the above share transfer transaction, Thien Long Company is no longer a subsidiary of Phat Dat Company.

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

It is known that Thien Long Building Company is the investor of the Thuan An 1 High-rise Complex Project (Thuan An - old Binh Duong). The project has an area of about 1.8 hectares, 39 floors high and 3-4 basements, with nearly 2,700 apartments and shophouses.

Or just last September, Phat Dat Real Estate Development Joint Stock Company also approved the policy of selling a part of its capital contribution at 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 more than VND2,100 billion, causing many shareholders to worry. After that transaction, Mr. Dat still owns 271.8 million units (27.7%).

At the close of trading on November 3, Phat Dat's PDR shares fell sharply by 5.1% to VND21,300/share.

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