Waves, stock market manipulation of shares of the surname Louis

During the first 9 months of 2021, Louis Holdings is the name that attracts the most attention of investors when there is only a leak of information about which business Louis Holdings buys, sells or merges into. instant wake up.

Boost gallop…

From February 2021, Mr. Do Thanh Nhan and Louis Holdings group continuously bought shares and acquired Bao Thu Industrial Development and Investment Company. After that, the company changed its name to Louis Land (HNX: BII) as it is today.

Mr. Nhan then continued to buy 51% equity in Truong Giang Construction and Investment and changed its name to Louis Capital (HoSE: TGG).

Besides, Mr. Do Thanh Nhan became the manager of An Giang’s largest rice exporter after buying 51% share capital of An Giang Import and Export (Angimex, HoSE: AGM) from Nguyen Kim Group.

Through Louis Capital, Mr. Nhan continued to collect 35% of the charter capital of APG securities (HoSE: APG), along with buying 22.8% shares of Sametel (HNX: SMT), a company specializing in manufacturing electronic products, computers and communication equipment. Not stopping there, this “ecosystem” also targets Thuduc House (HoSE: TDH) or DAP- Vinachem (UPCoM: DDV).

This group was originally just small-scale companies with poor business results or slow growth. But after going home with the group “Louis”, these stocks molted, skyrocketing on the stock exchange. In which, TGG and BII are the two most impressive names.

At the opening time of the first trading session of 2021 (January 4, 2021), TGG shares traded at 1,220 VND/share. However, more than 9 months later, on September 22, 2021, TGG’s stock peaked at 74,800 VND/share, equivalent to an increase of 61.3 times. Calculated above all stock market In Vietnam, TGG is also the biggest gainer.

Notably, TTG’s gain was despite the fact that TGG stock was changed from warning to control by HoSE because in case HoSE considers it necessary to protect investors’ interests. This stock is limited in terms of trading time and can only be traded in the afternoon session of the trading day by method of order matching and agreement, from June 7, 2021.

Ranked 2nd in the top price increase of “Louis family” is BII. This share price has increased by nearly 689%, from VND 3,900/share (January 4, 2021) to VND 30.80/share (September 20, 2021).

Other stocks include DDV up 338%, SMT up 310%, AGM and APG up more than 100% from the beginning of the year to the end of September 2021.

…then continuously dropped to the floor

However, their hot rise in Louis also came to an end and when they were suspected of price manipulation, a series of codes followed a terrible increase. Investors who came later began to feel their accounts evaporate quickly.

Since the end of September, these codes have always been at floor prices, with a series of continuous declines. This development coincides with information from the State Securities Commission, which said that the management agency will closely monitor stocks with signs of abnormal trading.

During the Angimex shareholder meeting, Mr. Nhan shared that with the large volatility of stocks in 2021 due to the fomo factor of the market, I would like to draw from my experience to only focus on business. Then on a group “Louis Family”, Mr. Nhan’s account wrote that he was not a financial person and did not know anything about securities, completely F0 just entered this fierce market.

After TGG’s price increase, on 11/11/2021, Mr. Do Thanh Nhan made a move to sell out 930,000 TGG shares. All of Mr. Nhan’s transactions are done through an agreement, estimated to earn 21 billion dong after the deal.

After completing the divestment, Mr. Do Thanh Nhan submitted his resignation from the position of Member of the Board of Directors at Louis Capital JSC (TGG). The reason according to Mr. Nhan is that he is busy with personal work, so he cannot arrange time to participate in the work at the Company.

After this period, “Louis” stocks suddenly fell deeply. Ending the morning trading session on April 1, 2022, TGG shares traded at VND 20,850/share, down 3.5 times from the peak of VND 74,800/share in September 2021.

Meanwhile, BII shares traded at 11,100 dong/share, nearly 3 times lower than the peak of 30,800 dong/share.

Yesterday’s session 20/4, this entire group was “empty buy side”, the usual happenings of Louis codes in the first months of the year. BII shares dropped to 7,500 dong, TGG also dropped to 15,300 dong, 70-80% lower than the peak in mid-September 2021. Other stocks in this group also retreated deep to near the starting level before rising.

And now, on the morning of April 21, all stocks related to the Louis ecosystem were sold off with a sudden high volume. Louis Capital’s TGG fell to 14,250 dong, Louis Land’s BII had more than 7.8 million shares up for sale or VKC had 2.4 million shares sold on the floor.

On the evening of April 20, the Investment Police Agency of the Ministry of Public Security said that it was investigating and verifying a case with signs of stock market manipulation that occurred at Tri Viet Securities Joint Stock Company, Louis Holdings Joint Stock Company and a number of companies involved.

According to the police, from January 4, 2021 to October 6, 2021, Do Thanh Nhan, Chairman of the Board of Directors of Louis Holdings Joint Stock Company, a member of the Board of Directors of Louis Capital Joint Stock Company, and Louis Land Joint Stock Company colluded with Do Duc Nam, General Director of Tri Viet Securities Joint Stock Company and other subjects using multiple securities trading accounts to buy, sell and entice others to buy and sell securities to manipulate share prices of Louis Capital Joint Stock Company (code TGG), Louis Land Joint Stock Company (code BII) and other securities codes contrary to the law, illegally profiting hundreds of billions of dong.

On the same day, the Investment Police Agency of the Ministry of Public Security issued a decision to prosecute the case of “Stock market manipulation” that occurred at Tri Viet Securities Joint Stock Company, Louis Holdings Joint Stock Company, Louis Capital Joint Stock Company, etc. Louis Land Joint Stock Company and related units.

The Investment Police Agency of the Ministry of Public Security issued a decision to prosecute, arrest, and search four individuals for “manipulating the stock market”, including: Do Thanh Nhan, Chairman of Louis Holdings Joint Stock Company. , member of the Board of Directors of Louis Capital Joint Stock Company, Louis Land Joint Stock Company; Trinh Thi Thuy Linh, Administrative Director of Louis Holding Joint Stock Company; Do Duc Nam, General Director of Tri Viet Securities Joint Stock Company; Le Thi Thuy Lien, Financial Services employee of Tri Viet Securities Joint Stock Company.