The family of DIC Corp Chairman continues to have his shares sold off

Construction Investment and Development Corporation (DIC Corp) announced that Chairman of the Board of Directors Nguyen Hung Cuong was sold for mortgage of 1.7 million DIG shares. Transactions were carried out on February 9 and February 11. Thus, Mr. Cuong has reduced his ownership in the company to 63.18 million units, equivalent to 7.93% of capital.

Thus, within the past two months, Mr. Hung Cuong has been liquidated 4 times, with the number of shares being more than 5 million units.

Mr. Cuong’s family members also encountered a similar situation. Ms. Nguyen Thi Thanh Huyen, Mr. Cuong’s sister and currently holding the position of Vice President, was sold on mortgage of 252,000 shares on February 9. Two days later, Mr. Cuong’s mother was also sold for about 346,000 units.

Since the beginning of December until now, DIG shares have decreased by 21.5%, to 15,850 VND per unit. In recent months, the market price of this code has gone down more than 5%.

Selling stock mortgages occurs because investors use margin and have not paid additional money when the stock price falls below the securities company’s allowed threshold. Before making a transaction, businesses often notify customers 1-2 days in advance. If they do not want to be liquidated, investors must pay more money into the escrow account to reach the minimum safety threshold according to regulations of the securities company.

DIC Corp was established in 1990, formerly an enterprise under the Ministry of Construction before being equitized and listed on the stock exchange in the period 2007-2009. This enterprise is one of the largest real estate investors with a total land fund of hundreds of hectares in many localities such as Ho Chi Minh City, Dong Nai, and Ninh Binh.

In 2025, DIC Corp will record revenue of more than 5,000 billion VND, more than three times more than the previous year. Excluding expenses, the company’s profit after tax is 624 billion VND, an increase of 500% compared to 2024.