After the profit-taking move of the Chairman of the Board of Directors of Hoang Quan Real Estate Service Trading Consulting Joint Stock Company (HOSE: HQC) Truong Anh Tuan, the organization related to him, Hoang Quan Group Company Limited, registered to sell 27 million HQC shares from 11/23-22/12.
According to the price at 10:35 a.m. November 19 session (7,200 VND/share), it is estimated that Hoang Quan Group can collect 194.4 billion VND if it sells all of its registered shares.
More than 4 years ago, in two days 22-23/02/2017, Hoang Quan Group bought more than 38.2 million shares of HQC at an average price of 2,615 VND/share. Thus, this group can make a profit of nearly 124 billion dong if it successfully sells 27 million shares of HQC.
In 2020, Hoang Quan Group withdrew its capital from HQC when successfully selling nearly 8.2 million shares from July 3 to 6, 2020. However, with the average price of 1,610 VND/share, the Group lost more than 8.2 billion VND after the deal.
Summary of transactions of HQC shares of Hoang Quan Group
Regarding the relationship between Hoang Quan Group and HQC, in addition to the relationship of major shareholders, three leaders of HQC include Chairman - Mr. Truong Anh Tuan, two BOD members - Mr. Truong Duc Hieu and Ms. Nguyen Thi Dieu Phuong each holds more than 10% of the capital of Hoang Quan Group.
From October 27 to November 3, Mr. Tuan sold 24 million shares of HQC. Based on the average price, it is estimated that the leader earned about 127 billion VND. After the transaction, Mr. Tuan's ownership ratio in HQC decreased from 8.47% (more than 40 million shares) to 3.43% (more than 16 million shares) and is no longer a major shareholder of the Company.
The Chairman of the Board of Directors of HQC and related companies have made a move to divest in the context that HQC's stock price is at the highest price range in nearly 7 years. At 10:35 a.m. session on November 19, HQC's stock price was at VND 7,200/share, up 274% compared to the beginning of 2021.
Regarding the business situation, HQC reported a profit after tax in the third quarter of 2021 of more than 1 billion dong, down 11% over the same period. The company explained that the results were backward due to the complicated situation of Covid-19 in the country, causing customers and investors to limit transactions, resulting in quarterly revenue that did not meet expectations.
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