The number of HBC shares that Mr. Le Viet Hung holds before the transaction is over 3.4 million units, equivalent to 1.5%. After negotiating for his son 900,000 shares, Hung is expected to only hold more than 2.5 million shares of HBC, equivalent to 1.1% ownership.
The transaction will be executed from October 13, 2020 to November 12, 2020.
Currently, the largest shareholder of Hoa Binh Construction Group is the Chairman of the Board of Directors, Mr. Le Viet Hai, through holding more than 37 million shares of HBC, accounting for 16.05%.
In addition, another major shareholder of this group is Hyundai Elevator Co., Ltd. In April 2019, HBC privately issued 25 million shares, equivalent to a 10.83% ownership rate to strategic partner Hyundai Elevator.
Korea Investment Management Co., Ltd (KIM) of Korea, after selling more than 600,000 HBC shares in early 2020, reduced its ownership rate to 4.85%, was no longer a major shareholder of the Group. Construction of Hoa Binh.
In a related development, in the middle of September 2020, Mr. Le Quoc Duy – a member of the Board of Directors and deputy general director of the group, successfully sold 61,000 shares of HBC, reducing his ownership rate to 0%.
On the stock market, HBC shares, after falling to the price range of VND 8,300 / share at the end of July, so far has increased by 36% to about VND 11,300 / share (closing price on October 9, 2020).
The business situation of HBC in 2020 is not very positive. Specifically, revenue and profit before tax in the first 6 months of 2020 will decrease by 40% and 80% respectively over the same period in 2019.
In particular, in the self-contained financial statements, this group recorded Q2 / 2020 profit of only 1.9 billion dong, the lowest quarterly profit in the past 6 years.
Recently, HBC announced that it was assigned to execute construction packages with a total value of nearly 780 billion VND in 3 projects including Sea Stars Ha Long Hotel project, Samsung Ha research and development project. Interior and commercial center project Lotte mall.
Source: vietnamfinance.vn – Translated by fintel.vn