Chairman of Phat Dat sells 88 million PDR shares, expected to raise 2 trillion VND, and asserts: “This is not a divestment”

On August 29, Phat Dat Real Estate Development Joint Stock Company announced that Mr. Nguyen Van Dat decided to sell 88 million PDR shares, raising about 2 trillion VND. However, Mr. Dat emphasized that this is not a divestment but a preparation for financial resources for the company. After the transaction, he still holds 36.45% of shares, remaining the largest shareholder. Earlier, Mr. Dat also sold personal assets to help Phat Dat escape the bond debt crisis. He stated that this decision is a proactive action to seize development opportunities in the real estate sector. With the funds raised, Phat Dat will invest in new projects in Ho Chi Minh City and adjacent provinces, while continuing to recover debts and restructure its investment portfolio.