Board Chairman of a Listed Company Wants to Transfer Hundreds of Billion VND Worth of Shares to His Wife and Children?

Saigon VRG Investment Joint Stock Company (stock code: SIP) recently announced that Mr. Tran Manh Hung, Chairman of the Board of Directors of SIP, registered to transfer 3.5 million SIP shares to his family. Mrs. Le Hong Cam (wife) will buy 1.5 million shares, and Mr. Tran Le An (son) will buy 2 million shares, with the transaction period from June 27 to July 26, 2025. If the transaction is completed, Mr. Hung’s ownership ratio will decrease from 10.3% to 8.64%, while his wife and son will increase their ownership ratios to 0.71% and 0.95%, respectively. The current share price of SIP is 69,400 VND/share, estimating the total transaction value to be nearly 243 billion VND. Regarding business performance, SIP expects a decrease in revenue and profit in 2025 compared to 2024, aiming for a target revenue of 5.657 trillion VND and profit of 833 billion VND. In Q1/2025, SIP reported revenue of nearly 1.941 trillion VND, up 6.3% year-on-year, achieving 48% of the year’s plan.