Estimated at the current price, Mr. Vu will spend about 25.3 billion for this deal. Statistics last week, the price of HSG shares rose nearly 6.7%.
At the Annual General Meeting held on January 13, Chairman of the Board of Directors of Hoa Sen Group (HSG), Mr. Le Phuoc Vu was confident that HSG's shares could increase to the price of VND 20,000 / share. promissory note. Immediately after this confident statement, Chairman Vu registered to buy another 3 million HSG shares to increase ownership in Hoa Sen to 12.45%.
Specifically, on January 13, Hoa Sen Group announced the transactions of internal peoples. Accordingly, the Chairman of the Board, Mr. Le Phuoc Vu, registered to buy 3 million HSG shares. The transaction is expected to take place from 14 to 14 January 2020 by agreement or matching.
Currently, Mr. Vu owns more than 49.7 million HSG shares, equivalent to a 1.74% ownership. After the transaction, Vu's ownership in Hoa Sen will increase to 12.45%.
Currently, HSG shares are being traded at VND 8,460 per share (ending January 15). Today, HSG shares had the highest matching volume in the past week, recording more than 8.6 million shares. Today, the price of HSG shares also increased sharply last week, recording an increase of more than 4.4%.
Estimated at the current price, Mr. Vu will spend about 25.3 billion for this deal. Statistics last week, the price of HSG shares rose nearly 6.7%.
In terms of business results, Hoa Sen Board of Directors sets the revenue plan for 2020 to be flat, expected to reach 28,000 billion dong. However, Hoa Sen plans a net profit growth of 11% yoy, reaching VND 400 billion. Management stated that the company currently has a positive view on improving profit margins. Assessing the steel industry, the Board of Directors said that 2020 will continue to be an unpredictable year when the domestic market is competitive and the export market is still challenging.
According to the report at the end of the year 2018-2019, Hoa Sen's total liabilities was over VND 7,700 billion and exceeded equity by VND 1,700 billion. Business targets such as output, net revenue, profit after tax ... did not complete the plan because the two main factors are market instability and the company is in a strategic adjustment phase.
The profit of VND 400 billion is modest, as if it is definitely achieved. HSG shares will soon return to the price range of VND 20,000, even to VND 30,000, provided that US President Donald Trump does not have any other "tax" ideas ", Mr. Vu said.
