T&T Group wants to sell 74.5 million SHB shares

T&T Group Corporation has just sent a document to the Ho Chi Minh City Stock Exchange regarding stock transactions of related persons of insiders.

Accordingly, T&T Group has just registered to sell 74.5 million shares of Saigon - Hanoi Commercial Joint Stock Bank (HoSE:SHB ) for the purpose of restructuring its investment portfolio. The implementation method is order matching and/or negotiation during the period from May 13 to June 10.

T&T Group is currently a major shareholder of SHB with the number of shares held before the transaction being 361.9 million shares, accounting for 9.99% of the total number of listed shares. After the successful transaction, the number of SHB shares owned by T&T Group will be only nearly 287.4 million shares, equivalent to 7.94% of the total number of listed shares.

In addition, SHB Chairman Do Quang Hien is also Senior Advisor to the Board of Directors and Operations Director of T&T; SHB Vice Chairman Do Quang Vinh is Director of International Financial Investment of T&T; SHB Deputy General Director Luu Danh Duc is Director of IT Department of T&T.

Previously, in mid-April, Mr. Do Quang Vinh (Mr. Hien's son) registered to buy 100.2 million SHB shares from April 19 to May 17. Before the transaction, Mr. Vinh owned 939,722 SHB shares, equivalent to 0.026%.

If the transaction goes smoothly, Mr. Vinh will increase the number of shares owned to more than 101.1 million shares, equivalent to 2.79% of capital.

On the other hand, Ms. Do Thi Minh Nguyet, Mr. Hien's sister, registered to sell all 25.7 million SHB shares she owns, equivalent to 0.71% of capital at SHB, also in the period from April 19 to May 17.

In the market, in the morning trading session on May 9, SHB shares were traded around VND11,900/share with a trading volume of more than 10 million units. Temporarily calculating at this price, if the transaction is successful, T&T Group is expected to earn more than VND1,191 billion .