PENM IV Fund can only buy 100,000 shares of Taseco, continue to register to buy 1 million more units

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From the end of November up to now, CC1’s shareholder structure has continuously fluctuated when a series of major shareholders exited with each other immediately after the Ministry of Construction sold out 40.66% of its shares here.

According to the Hanoi Stock Exchange (HNX), on February 3, Mr. Tran Tan Phat, an individual investor, bought 13.7 million CC1 shares of Construction Corporation No. 1 – JSC.

Before the transaction, Mr. Phat did not own shares in CC1. After the transaction, Mr. Phat held 12.49% of CC1’s capital and became a major shareholder.

In session 3/2, there appeared 13.7 million agreement transactions of CC1 shares, exactly equal to the amount Mr. Phat bought with a total value of VND 205.5 billion. Therefore, this is most likely a transaction of Mr. Phat.

The average buying price of Mr. Phat was 15,000 VND / share, higher than the closing price of February 3 session (14,500 VND) but still lower than the price of CC1 shares at the end of 9/2 session (16,800 VND / share). .

After Mr. Phat bought in, Mr. Le Huu Viet Duc, General Director also registered to buy 13.2 million shares from February 4 to March 2. Before the transaction, Mr. Duc owned 7,900 shares.

In the opposite situation, on February 3, Bao Viet Value Investment Fund (BVIF) has sold out nearly 10.39 shares, the rate of 9.47% capital and is no longer a major shareholder.

One unit related to BVIF, Bao Viet Insurance Corporation, also sold out nearly 1.47 million CC1 shares on February 3.

After BVIF and Bao Viet divested from CC1, a series of major shareholders of CC1 also competed to divest their capital like Tuan Loc Construction Investment JSC registered to sell off 20.9 million shares (19.06% ratio). Nam Thinh Refrigeration Electrical Engineering JSC registered to sell all 16.5 million shares (rate 15.05%). These transactions are scheduled to take place from February 9 to March 5.

In addition, Top American Vietnam JSC also registered to sell all 12.1 million shares, 11.03% capital ratio in CC1. The transaction is expected to take place from February 18 to March 5.

Previously, from November 25 to December 7, 2020, the Ministry of Construction completed divesting more than 44.58 million CC1 shares, the rate of 40.66% of capital in CC1.

The shareholder structure of CC1 continuously fluctuated after the divestment of the Ministry of Construction because the company’s general meeting of shareholders has approved that strategic shareholders are free to transfer their shares after 3 years of holding instead of 5 years compared with the previous commitment at the extraordinary meeting on January 21.

Regarding the business situation, in 2020, CC1 reached VND 6,839 billion in net revenue, up 3.8% compared to 2019. But the increase in cost of capital pulled the after-tax profit of the business down nearly 68% to over 43 billion VND. The whole year net profit dropped by 19% to 54 billion dong.

Accordingly, PENM IV fund registered to buy 1 million shares of Taseco AST from January 18, 2021 to February 9, 2021. However, after the transaction, this fund only bought 100,000 units due to not reaching the target price. The total number of AST shares held by PENM IV increased to more than 7.9 million units, equivalent to 17.64%.

After unsuccessfully consolidating 1 million AST shares, PENM IV continued to register to buy Taseco shares with the same amount from February 22, 2021 to March 19, 2021 for investment purposes. 

Transactions will be executed by matching or agreement method. If buying successfully, PENM IV will increase the number of shares owned by AST to over 8.9 million units, equivalent to 19.86%.

It is known that during the period from December 15, 2020 to January 13, 2020, this foreign fund also registered to buy 1 million AST shares. However, due to the failure to reach an agreement on purchase price, PENM IV could only buy 105,910 shares of Taseco.

Regarding the business situation, Taseco’s revenue in 2020 reached 359 billion VND, a decrease of 68% compared to 2019. Notably, 2020 marks the first time this company has reported a loss since its establishment, with a loss. after tax up to more than 51 billion.

AST closed the last session before the Lunar New Year at the price of 58,500 VND / share. Market capitalization is estimated at more than 2,600 billion VND.

Source: vietnamfinance.vn – Translated by fintel.vn