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Executives snap up shares after positive information

Update: May, 10/2017 - 09:00
Viet Nam News

 

HÀ NỘI – Many managing executives have registered to buy large amounts of shares of their firms in recent days following the release of positive business information.

Đặng Huỳnh Ức My, a member of the managing board of sugar maker Thành Thành Công Tây Ninh JSC (SBT), registered to purchase 3 million SBT shares between May 11 and June 9.

The planned purchase comes after the company announced a merger plan with Biên Hòa Sugar Co (BHS) to create the largest sugar company on Việt Nam’s stock market with value estimated at VNĐ10 trillion (US$438.6 million).

In a filing to the HCM Stock Exchange on Friday, My said the purchase was purely for investment purposes. My holds 1.56 per cent of total outstanding shares and her ownership is expected to rise to 2.74 per cent after the transaction.

The price of SBT shares fell 1.3 per cent in the last four days, trading at VNĐ25,300 a share on Tuesday.

Prior to the company’s dividend payment next month, chairman of Đất Xanh Real Estate Service & Construction Corp (DXG) Lương Trí Thìn registered to buy 5 million DXG shares until June 1, seeking to raise his ownership to 8.85 per cent from 6.87 per cent.

Đất Xanh Real Estate will issue nearly 33 million shares to pay for 2016’s dividend with 13 per cent in stocks and 5 per cent in cash, expected in June 29.

Trading of this stock has been active in recent days with average 10-day volume touching nearly 4.3 million shares per session. Its price also expanded more than 13 per cent in the last 10 days.

At VNĐ24,500 a share, Thìn will likely spend nearly VNĐ123 billion for the purchase.

Trần Ngọc Đính, vice chairman of Dream House Investment Corp (DRH), booked a purchase of 3.2 million shares of the company, equivalent to 6.52 per cent of its capital.

At the annual shareholders’ meeting on April 20, the company passed a restructuring plan to get rid of its fertiliser business and focus on real estate.

DRH prices have soared nearly 27 per cent in the past month to about VNĐ31,000  a share with daily trading volume of 1.1 million shares.

Also, managing executives of Simco Sông Đà (SDA), Việt Nam Construction No 7(VC7), KLF Joint Venture Investment International (KLF) have registered to buy between 150,000 shares to one million shares. – VNS

 

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