Why did the leaders of Thanh Thanh Cong...

The Ho Chi Minh City Stock Exchange (HOSE) has just announced that Ms. Doan Vu Uyen Duyen, Deputy General Director of Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, stock code: SBT), has registered to sell all 8.1 million SBT shares.

The expected trading period is from July 25th to August 23rd, using negotiated and/or order matching methods. The purpose is to restructure the investment portfolio.

If the transaction is successful, Ms. Duyen will no longer hold SBT shares. Ms. Duyen's selling move comes as the stock is gradually recovering after its sharp decline in mid-April.

Based on the closing price of 13,300 VND per share on July 22nd, the estimated value of this block of shares is nearly 108 billion VND.

SBT stock price fluctuations recently. Source: Fireant

Before assuming the position of Chairwoman of the Board of Directors of TTC AgriS, Ms. Dang Huynh Uc My registered to sell 70 million SBT shares to restructure her investment portfolio. The transaction period was from July 12th to August 10th, conducted through negotiated transactions and/or order matching.

Ms. My is the daughter of Ms. Huynh Bich Ngoc and Mr. Dang Van Thanh - Chairman of Thanh Thanh Cong Group. Ms. My is also known as the "sugar princess".

Regarding business performance, the consolidated financial report for the third quarter of the 2023-2024 fiscal year (from January 1st to March 31st, 2024) of TTC AgriS recorded net revenue of VND 6,159 billion and after-tax profit of VND 187.5 billion, representing increases of 8% and 23% respectively compared to the same period last year.

As of the end of Q1/2024, the value of TTC AgriS's cash and cash equivalents portfolio increased by nearly VND 1,300 billion compared to the end of Q2/2023, reaching VND 4,445 billion. Of this, cash equivalents (bank deposits, short-term investments, etc.) accounted for 70.5%.

However, TTC AgriS's liabilities at the end of the first quarter increased by more than VND 3,400 billion, reaching VND 22,875 billion. The main reason was an increase of more than VND 2,200 billion in short-term loans and financial leases, reaching VND 13,307 billion; and an increase of more than VND 1,200 billion in long-term loans and financial leases.

Source: https://nld.com.vn/vi-sao-lanh-dao-thanh-thanh-cong-bien-hoa-muon-ban-sach-81-trieu-co-phieu-sbt-196240722191653227.htm