My sell sugar firm shares, earning $7 million

Tuesday, Dec 08, 2015 18:00

Mrs Dang Huynh Uc My sold five million shares of the company between December 1 and 3. — Photo motthegioi

HA NOI (Biz Hub) — A member of cane sugar firm Thanh Thanh Cong – Tay Ninh's management board Dang Huynh Uc My sold five million shares of the company between December 1 and 3.

The code of the firm, previously known as Bourbon Tay Ninh, on the HCM City Stock Exchange is SBT.

The southern bourse said in a report on Monday that the sale has reduced My's holding in the company to 2.1 million shares, or 1.15 per cent of its total shares in circulation.

The sale was supposed to be for profit taking. My bought SBT shares early last year for VND12,000 to VND13,000 (53 to 58 US cents) each. The share price increased significantly recently, reaching VND18,500 (82 cents) on December 3.

On December 3, My also sold nearly 3.15 million shares of Bien Hoa Sugar JSC (BHS), which closed that session at VND20,900 (93 cents) each. She currently owns 8.4 million BHS shares, equivalent to a holding ratio of 6.81 per cent.

With such market prices, she has gained about VND160 billion ($7.11 million) from the transactions.

Last Friday, SBT and BHS were added to the FTSE Vietnam Index, which covers the performance of domestic companies trading on the southern bourse, with sufficient foreign ownership availability and liquidity.

My is among the richest women on the Vietnamese stock market, with her assets in the local exchange reportedly amounting to some VND307 billion ($13.64 million).

She also chairs the HCM City-based Thanh Thanh Cong Group, the parent company of the SBT. The group holds 45.95 million SBT shares and 34.1 million BHS shares, and also deals in energy, hospitality and real estate.

Her father Dang Van Thanh had chaired Sacombank, her mother Huynh Bich Ngoc had chaired Thanh Thanh Cong Production and Trading JSC, and her brother had chaired property firm Sacomreal. — VNS

Comments (0)