The boss of a real estate company is a major shareholder in many businesses

On June 25, Truong Thanh Construction and Development Investment Joint Stock Company (Truong Thanh Group) announced that Mr. Dinh Quang Chien had purchased an additional 645,500 TTA shares. After the transaction, this shareholder increased his ownership to 23.7 million units, equivalent to 13.3% of the company’s capital. The total value of the above shares is about 275 billion VND.

Mr. Chien, his daughter and related organizations currently hold 15.5% of the shares of Truong Thanh Group. This group continuously bought TTA shares in May and June. In addition to TTA, during the same period, Mr. Chien also spent tens of billions of dong to collect more shares of LIG, HHS and HCD.

Mr. Dinh Quang Chien directly owns shares of 7 other businesses, with volume from several million to tens of millions of units, worth more than 1,200 billion VND.

Among these, Mr. Dinh Quang Chien’s assets held at Central Electricity Development and Investment Joint Stock Company are the largest. This businessman owns nearly 25% of the above enterprise’s capital, an estimated value of about 327 billion VND and is holding the role of Chairman of the Board of Directors.

Mr. Dinh Quang Chien was born in 1967 in Nam Dinh (formerly) and holds a Bachelor of Finance and Accounting. During the period 1991-1995, he worked at Hai Hau Tax Department, Nam Dinh province (formerly).

This businessman joined Tu Lien Urban Development Joint Stock Company (Lideco) in 2005 as a member of the Board of Directors. From April 2019 until now, he has held the position of Vice Chairman of Lideco and holds nearly 18 million NTL shares, equivalent to 14.76% of capital.

Lideco, where Mr. Dinh Quang Chien is Vice President, is an enterprise that has also invested heavily in stocks in recent years, although its main activities are in the real estate sector. According to the first quarter financial report, this company is pouring about 576 billion VND into this investment channel, equivalent to 30% of assets. This investment has brought Lideco more than 13 billion VND in profit.

In the first quarter, Lideco’s profit after tax was more than 14.5 billion VND, more than twice the same period last year. However, the company is profitable mainly thanks to stock investments, while revenue from core business activities only reaches more than 4 billion VND.