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Tuesday, July 23, 2024

CEO sharply reduces stake in BAF

The Saigon Times

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HCMC – Bui Huong Giang, board member and general director at BAF Vietnam Agriculture Joint Stock Company (BAF), has sold over 13.85 million BAF shares to reduce her ownership in the firm from 13.25% to 3.6%.

After the transactions, which were carried out from October 5 to 18, the CEO is no longer a major shareholder at BAF Vietnam.

Previously, Le Xuan Tho, another board member at BAF Vietnam, sold over two million BAF shares on October 4 through put-through transactions to cut his stake in the firm from 2% to 0.55%.

Phan Ngoc An, BAF board member and deputy general director, also sold more than 6.59 million BAF shares from October 7 to 11 to reduce his ownership to 1.73% from 6.32%. Accordingly, An is also no longer a major shareholder at this agriculture company.

In related news, Siba Holdings Joint Stock Company, a unit related to Truong Sy Ba, board chairman at BAF Vietnam, registered to purchase 24.6 million BAF shares between September 30 and October 28, in order to raise his ownership in BAF from 20.5% to 37.65%.

During the first six months of this year, BAF Vietnam posted more than VND3,100 billion in revenue and around VND128 billion in after-tax profit, declining 39.7% and 36.3% against the same period last year, respectively.

BAF targets to obtain VND5,950 billion in revenue and VND402 billion in after-tax profit in 2022, down 43% and up nearly 25% year-on-year, respectively.

Closing the trading session today, October 20, BAF slid 3.87% over the session earlier at VND26,050.

Regarding stock trading today, the benchmark VN-Index on the Hochiminh Stock Exchange shed 1.62 points, or 0.15%, against the previous session at 1,058, with 131 winners and 287 losers.

The HCMC market saw over 398 million shares worth over VND8.3 trillion changing hands, down slightly in volume but up slightly in value day-on-day. Shares traded in block deals accounted for over VND1.2 trillion of the total value.

Steelmaker HPG again led the southern bourse by liquidity with more than 26 million shares transacted.

The HNX-Index of the Hanoi market lost 2.02 points, or 0.89%, compared to yesterday at 225.88, with 59 advancers and 110 decliners.

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