Mobile World, Chairman of Khai Hoan Land... race to buy stocks when stock prices fall sharply

(NLDO)- A series of businesses and internal shareholders at listed companies continuously announced to buy stocks when the stock market fell sharply.

The State Securities Commission has just approved Mobile World Investment Corporation (MWG) to buy 10 million treasury shares, equivalent to 0.7% of total outstanding shares.

The transaction period is from November 19 to December 18, in the form of direct order matching on the floor, with a maximum purchase price of VND200,000/share. Each session, the enterprise plans to buy 3-10% of the total registered volume, or about 300,000 - 1 million shares.

According to the notice sent to shareholders, Mobile World set a minimum purchase price of VND10,000 and a maximum of VND200,000/share, calculated according to the formula "reference price plus 50% of the stock price fluctuation range".

Based on the ceiling price, the total transaction value could be up to VND2,000 billion, drawn from equity capital, specifically undistributed after-tax profits until the end of 2024 with a scale of more than VND12,582 billion.

Domestic businesses and shareholders compete to buy shares as stock prices fall sharply

This move shows that the company wants to support the stock price and affirm its confidence in its internal potential, in the context of the stock market going through a period of strong fluctuations. On the morning of November 11, the MWG code traded around VND77,000/share. If the treasury stock purchase transaction is completed, the company's charter capital will decrease according to regulations, while the proportion of shareholders holding will increase due to the narrowing of the number of outstanding shares.

Not only MWG, many leaders of listed enterprises have recently continuously registered to buy shares to strengthen market confidence.

Meanwhile, Mr. Nguyen Khai Hoan, Chairman of the Board of Directors of Khai Hoan Group Joint Stock Company (Khai Hoan Land, code KHG), has just reported that he received the transfer of 13.58 million KHG shares from his wife, Ms. Tran Thi Thu Huong, between October 24 and November 7 through an agreement. After the transaction, Mr. Hoan increased his ownership to 157.2 million shares, equivalent to 34.99% of charter capital, compared to the previous level of 31.97%.

At the same time, the foreign fund group Dragon Capital also announced the purchase of more than 2.5 million DXG shares of Dat Xanh Group, through four member funds, increasing the total ownership to 103.4 million shares, equivalent to 10.15% of capital. This move shows the return of foreign capital to the listed real estate group, especially after a long period of net selling by foreign investors.

Previously, the market also recorded a series of "stock-collecting" transactions by internal shareholders. The Chairman of the Board of Directors of EDX Group Corporation announced a plan to buy an additional 4 million DCS shares between November 10 and 28, showing the trend of corporate leaders proactively increasing their holding ratio to affirm their long-term commitment to investors.

Source: https://nld.com.vn/the-gioi-di-dong-chu-tich-khai-hoan-land-dua-nhau-gom-co-phieu-khi-chung-khoan-giam-sau-196251111084012011.htm