Sovico General Director and Phu Long Real Estate “switched hands” over 5 million shares of HDB?

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Accordingly, Mr. Pham Khac Dung registered to buy more than 5.1 million HDB shares from October 27 to November 25. Transactions are made by agreement, for investment purposes.

At the same time, Phu Long Real Estate Joint Stock Company also registered to sell the same number of HDB shares, with the same agreement method.

Thus, it is not excluded that Mr. Pham Khac Dung and Phu Long Real Estate are exchanging hands with more than 5.1 million shares of HDB.

Before the transaction, General Director Sovico held more than 19.1 million HDB shares, equivalent to 0.96% of HDBank’s capital and is expected to increase the number of shares owned to more than 24.3 million units, equivalent to rate 1.21%.

As for Phu Long Real Estate, this unit is expected to leave the shareholder seat of HDBank through the sale of all over 5.1 million HDB shares in this transaction.

Previously, in the late period of 2020, Mr. Pham Khac Dung and Phu Long Real Estate also bought and sold the same amount of more than 15.3 million HDB shares. This is also said to be a hand-to-hand transaction between these two investors with the same execution time and agreement method.

It is known that Sovico is currently the only major shareholder of HDBank with an ownership rate of 14.48%, equivalent to more than 290.6 million shares.

As of September 30, 2021, the bank’s total assets reached more than VND 346,000 billion, up 26.7% over the same period last year. Outstanding loans increased by 16.1% over the same period. The individual bad debt ratio remained low below 1%, the consolidated bad debt ratio at 1.4%, both lower than the same period last year.

The bank’s total operating income exceeded VND 12,100 billion, up 23.6% over the same period last year. Service activities continued to be the bright spot in the first 9 months, with net income up 88.6% y/y.

Net revenue from services at the parent bank was more than 3 times higher than the same period last year. Cost/total operating income ratio decreased from 43.8% as of September 30, 2020 to 39%.

ROE reached 24%, up sharply from 21.1% in the same period last year.

HDB shares opened on October 25 at 24,900 VND/share. Market capitalization is estimated at 49,600 billion VND.

Source: – Translated by