Ms. Ho Thi Kim Thoa wants to sell 50 billion VND worth of shares
Former Deputy Minister of Industry and Trade - Ho Thi Kim Thoa registered to sell 1.68 million Dien Quang shares to meet financial needs.
Ms. Ho Thi Kim Thoa has just registered to sell 1.68 million shares, equivalent to 5.38% of the charter capital of Dien Quang Electric Bulb Joint Stock Company (stock code: DQC) to meet financial needs. The transaction is expected to be carried out by order matching or negotiation in November.
After five consecutive sessions of decline, Dien Quang's stock price increased by nearly 2% compared to the reference price in the last trading session of the week and closed at 29,300 VND. Based on this level, the block of shares that Ms. Thoa registered to sell is worth approximately 50 billion VND.
If the transaction is successful, Ms. Thoa will only own more than 6,400 shares, accounting for 0.02% of charter capital, so she is no longer a major shareholder of Dien Quang.
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Before the divestment transaction, Ms. Thoa was a major shareholder at Dien Quang Electric Bulb Joint Stock Company. |
Ms. Thoa's family still holds a large number of shares in Dien Quang. Specifically, Chairman of the Board of Directors and General Director Ho Quynh Hung (Ms. Hoa's younger brother) owns 2.51 million shares, equivalent to 8.06% of capital. Ms. Hoa's two daughters, Board Member and Deputy General Director Nguyen Thai Nga and Executive Director Nguyen Thai Quynh Le, hold a total of 6.35 million shares, equivalent to 20.34% of capital.
According to analysis by Ho Chi Minh City Securities Corporation two months ago, the fair value of Dien Quang shares is 33,000 VND. LED lighting products are the main growth driver in the short term, while in the long term, innovative smart products and changes in sales policies (reducing dependence on first-level agents, approaching small electronics stores...).
Dien Quang's net revenue in the first half of the year increased by 11% over the same period, to VND466 billion, completing more than 40% of the yearly plan. Slight fluctuations in raw material prices negatively affected the gross profit margin, causing after-tax profit to decrease by more than 7% to only VND46 billion.
HSC believes that, more than a year after the investigation involving members of the Chairman's family, Dien Quang is still having difficulty reasserting its position in the light bulb market despite being very active in bringing new products to the market.
