The successful sale of VGT shares reached nearly 12.3 million units, equivalent to 49% of the total initial registered volume.
Vingroup (Ticker: VIC) has just announced that it has sold nearly 12.3 million VGT shares of Vietnam Textile and Garment Group (Vinatex, Ticker: VGT) through matching order on the floor from day 1 April to April 29.
Previously, Vingroup registered to sell 25 million VGT shares. Thus, this unit only made 49% of the total registered volume. Regarding the reason for not implementing all the transactions, Vingroup has not announced.
With the successful sale of the above shares, Vingroup has reduced the number of shares held in Vinatex from 50 million units to more than 37.7 million units, equivalent to 7.54% of the charter capital of Vietnam Textile and Garment Group.
The person related to the two organizations is Mr. Le Khac Hiep, an independent member of the Board of Directors of Vingroup, and a member of the Board of Members of Vinatex.
According to research, Vingroup became a shareholder of Vinatex when this enterprise was equitized in 2014.
During the equitization, Vinatex offered 120 million shares, equivalent to 24% of the company’s charter capital, to two strategic investors, Vingroup (50 million shares) and Vietnam Investment and Development Group VID Group. (now Vntex) (70 million shares). The price offered to strategic shareholders is about 11,100 VND / share.
In March 2018 and January 2019, Vntex sold 35 million VGT shares each time and was no longer a major shareholder of Vinatex.
The time of Vingroup’s divestment at Vinatex takes place when the VGT code is trading at the highest price range since the transaction on the UPCoM market. Stock prices have been on a downward trend since mid-March. Closing session this morning, the market price of this code stopped at VND 14,900 / share.
(VGT’s stock price movement in the past half year. Source: VNDirect).
Source: vietnambiz.vn – Translated by fintel.vn