General Director of Hoa Binh Construction wants to sell all shares

VHO - In information sent to the Hanoi Stock Exchange, Mr. Le Van Nam, General Director of Hoa Binh Construction Group Corporation (stock code: HBC) registered to sell 123,700 HBC shares to meet personal financial needs.

HBC registered to sell 123,700 HBC shares to meet personal financial needs. Illustrative photo

The transaction is expected to be carried out from June 5, by both order matching and negotiation methods. If the sale is successful, Mr. Nam will no longer hold any shares in this enterprise.

A few days ago, he also sold 500,000 HBC shares for the same purpose, when the code was trading around VND6,500. It is estimated that Mr. Nam could earn more than VND3 billion.

If successful, Mr. Nam will no longer own shares in Hoa Binh Construction Group. Mr. Nam started working at Hoa Binh in 2001, was project manager of many projects, then held the position of deputy general director. He left the company for a while, then returned and was appointed general director 2 years ago.

On the other hand, Mr. Le Viet Hieu - Vice Chairman of the Board of Directors of this company - is registering to buy half a million shares for investment. Mr. Hieu will increase his ownership to 1.2 million shares if the transaction is successful.

On the afternoon of June 4, this company also announced the dismissal of Mr. Huynh Tan Quoc from the position of Deputy General Director according to his personal wishes, and at the same time appointed Mr. Pham Hong Ha - currently the Executive Director - to hold the position of Deputy General Director.

Regarding business performance, in the first 3 months of the year, the company recorded a 59% decrease in revenue compared to the same period last year, to 692 billion VND. This is also the lowest revenue of this contractor since the first quarter of 2014.

This year, Hoa Binh Construction targets revenue of VND9,000 billion and after-tax profit of VND360 billion, up 40% and down 63% respectively compared to last year. Explaining this difference, the company's leaders said that last year's high profit did not come from core business activities, but mainly from asset transfers, sale of subsidiaries and debt collection.

Thus, after the first 3 months of the year, this company has only achieved about 8% of its revenue target and 1% of its profit target.

Source: https://baovanhoa.vn/kinh-te/tong-giam-doc-xay-dung-hoa-binh-muon-ban-het-co-phieu-140725.html