A bank boss who illegally sold stocks
According to information from the Ho Chi Minh City Stock Exchange (HOSE), a Deputy General Director of VPBank has sold 25,000 shares of VPB. Transactions are carried out from February 7 to February 24, 2022 by order matching method on the floor.
Notably, VPBank’s “boss” sold shares when previously not disclosing transaction registration information according to regulations. Accordingly, the data on the HOSE Portal and the VPBank website did not have a notice of registration to sell the above shares.
According to the provisions of article 33 of Circular 96/2020/BTC-TT, business leaders who trade shares worth less than 200 million VND at par value in 1 month (equivalent to 20,000 shares in 1 month), are not information disclosure. Thus, the amount of shares exceeded according to regulations in this case is 5,000 shares, equivalent to about 50 million VND at par value.
After the above transaction, the leader at VPBank reduced his ownership to more than 6.5 million VPB shares, equivalent to 0.144% of VPBank’s charter capital.
During the time VPBank’s deputy general manager sold shares, VPB’s market price fluctuated in the range of VND 35,000 – 38,000. Estimated at the average price of 36,500 VND/share, the above deputy general director can earn about 913 million VND.
Regarding VPB, this stock has just experienced 4 consecutive gaining sessions with high liquidity. Closing on April 4, VPB’s market price stopped at 39,000 VND/share, less than 4% from the historic peak (40,400 VND/share – the adjusted peak was recorded on July 5, 2021).
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