Major share sales to hit Vietnam market after National Day holiday

Many major share sales by corporate executives and companies are set to come to the Vietnamese market following the National Day - September 2, with some transactions potentially worth trillions of dong (VND1 trillion = $37.96 million) if completed as planned.

Military Bank (MB) (HoSE: MBB) has registered to sell 60 million shares of its MB Securities JSC (HNX: MBS) from September 3 to October 2 to reduce its stake and increase the company’s public float. The transaction is expected to be conducted via order matching.

MB currently holds more than 76.3% of MBS, equivalent to 437.3 million shares. If the sale is completed as planned, MB’s stake would fall to 377.3 million shares, or 65.9%, potentially generating about VND2.5 trillion ($94.89 million) from the divestment.

The move comes shortly after MBS finalized the record date for a 12% cash dividend, with payments scheduled for September 19.

Based on its current holdings, MB expects to collect around VND520 billion ($19.74 million) from the payout. On the market, MBS shares have recently surged, closing at VND41,700 ($1.58) per share last Friday.

In another case, Phat Dat Real Estate Development Corporation (HoSE: PDR) announced that chairman Nguyen Van Dat has registered to sell 88 million PDR shares via throughput, scheduled from September 5 to October 3, citing personal financial needs.

The transfer by the chairman was described as a personal sacrifice. “Dat is transferring a small portion of his stake via throughput to convert personal assets into ready financial resources, enabling immediate support for Phat Dat’s larger-scale new business plans,” the company said on its website last Friday.

On the stock market, PDR shares have surged nearly 50% over the past two months since early July, closing at VND24,550 ($0.93) per share on August 29. If the sale of 88 million shares goes through, Dat is estimated to collect VND2.16 trillion ($82 million), reducing his ownership to 27.7%.

HDBank (HoSE: HDB) said CFO Pham Van Dau has registered to sell 1.3 million HDB shares for personal financial reasons, scheduled from September 5 to October 1.

Dau currently holds more than 151.4 million HDB shares, representing a 4.31% stake. If the sale is completed, his ownership would fall to 4.28%, or just over 151.1 million shares.

HDB shares closed last Friday at VND33,450 ($1.27) each, up more than 26% over the past month. At that price, Dau is estimated to collect nearly VND44 billion ($1.67 million) if the sale goes through.

Meanwhile, ahead of the holiday, executives and major shareholders of several companies completed previously registered share sales.

Dragon Capital, a leading foreign-run asset management firm in Vietnam, has filed a report disclosing changes in holdings of its related foreign investor group, a major shareholder owning 5% or more of Dat Xanh Group (HoSE: DXG) shares.

On August 25, Dragon Capital, via its affiliated funds, sold a total of 3.9 million Dat Xanh Group (DXG) shares, with Hanoi Investments Holdings Limited offloading 1 million, Norges Bank 1 million, and Vietnam Enterprise Investments Limited 1.9 million.

Following the transactions, its stake in DXG fell from more than 143.2 million shares (14.06%) to over 139.3 million shares (13.67%).

Based on the closing price of VND20,450 ($0.78) per share on August 25, Dragon Capital is estimated to have raised nearly VND79.8 billion ($3.03 million) from the sale.

Executives at DXG have also completed share sales. Board member Ha Duc Hieu sold 6.355 million DXG shares as registered via throughput/order matching between August 4 and 26, reducing his stake to 414,033 shares, or 0.04% of the company.

Earlier, DXG CEO Bui Ngoc Duc sold 744,418 shares from July 24 to August 19 through similar methods, cutting his holding to 952,000 shares, or 0.09%.

Meanwhile, Deputy CEO Do Thi Thai has registered to sell 413,300 DXG shares, with the transaction scheduled for the period August 15-September 13.