A Coteccons development venture in Hanoi. Photograph by VnExpress/Quynh Tran
Bolat Duisenov, chairman of development large Coteccons, has registered to purchase 730,000 shares of the corporate over a month beginning June 3.
The deal, estimated to be price VND37 billion (US$1.6 million) based mostly on the corporate’s share worth at closing Monday, as soon as full, will improve his stake from 0.72 p.c to 1.6 p.c.
Final December he had registered to purchase the identical variety of shares, driving Coteccons’ worth up from VND68,000 to VND97,000. He solely succeeded in shopping for 540,000 shares.
It peaked at VND113,600 in early January, however fell by over 50 p.c to a two-year low of VND43,000 final week, monitoring the bearish market.
One shareholder had mentioned he misplaced 75 p.c of his funding within the firm inside a month.
Duisenov mentioned traders ought to deal with the long-term potential of the corporate and mentioned the development business is prone to get better on the finish of this 12 months.
Coteccons reported earnings of VND29 billion final 12 months on revenues of VND1.91 trillion, down 46 p.c and 25 p.c from 2020.