RCC: Chairman’s family wants to sell a large number of shares

The daughter-in-law of RCC chairman Mr Ta Huu Dien wanted to sell 1 million shares to balance her personal finances. The Hanoi Stock Exchange (HNX) recently announced that Ms. Nguyen Thuy Linh, the daughter-in-law of the chairman of Ta Huu Dien Railway Construction Company, has registered to sell 1 million RCC shares.

The purpose of trading is to balance your personal finances. Methods for listing transactions and order matching. The trading period is expected to be from January 12, 2024 to January 31, 2024.

Currently, Ms. Nguyen Thuy Linh holds more than 1.44 million shares of RCC, equivalent to 4.49%. Meanwhile, Mr. Ta Huu Dien holds more than 6.2 million RCC shares, equivalent to 19.46%.

As of the close of the latest trading day on January 10, RCC’s share price closed at VND16,500 per share, down 1.79%. Based on this price, Ms. Linh is expected to earn VND 16.5 billion from the above transaction.

Ms Linh’s registration to sell RCC shares comes against the backdrop that the stock is currently trading at about 63% lower than at the start of 2023, with an average liquidity of more than 1,500 shares per trading session.

On the contrary, at the end of December 2023, HNX notified that Mr. Nguyen Xu Cuong had purchased more than 2 million shares of RCC, increasing his shareholding to 6.46%, thus becoming the majority shareholder of the enterprise from December 25, 2023 .

From the perspective of corporate operations, in the third quarter of 2023, RCC achieved revenue of nearly 215 billion VND, an increase of approximately 78% compared with the third quarter of 2022. The company’s after-tax profit exceeded VND4 billion, an increase of more than 2.5 times compared with the same period last year. After-tax profit exceeded VND4 billion, an increase of 78% and 60% respectively over the same period last year.

Cumulatively in the first nine months of 2023, the business revenue exceeded VND451 billion, an increase of 37% over the same period last year. Profit after tax exceeded VND6.2 billion, an increase of more than 2.5 times compared with the first nine months of 2022.

>>Railway Construction (RCC) lost nearly VND10 billion in the first quarter of 2022