Mr. Tran Le Nguyen outlays nearly $10 million to pick up additional holding.
Mr. Tran Le Nguyen, General Director and Deputy Chairman of the Board of Management at Kinh Do Corporation (Stock code: KDC) announced he has purchased 9.02 million KDC shares out of the 10 million recently registered for sale.
The reason he did not purchase all of the shares was because the transaction time was short. It lasted from August 21 to September 18 under the order matching and agreement method. During this period the market price of KDC shares fell from VND26,500 ($1.18) to VND23,800 ($1.06). This means the minimum amount he spent on KDC shares was VND215 billion ($9.56 million).
Mr. Nguyen previously held 16.91 million shares in KDC, accounting for 7.18 per cent. With this transaction he now owns 25.93 million shares, or 11.02 per cent.
Shareholders related to Mr. Nguyen are Mr. Tran Kim Thanh and Mr. Tran Vinh Nguyen, his older brothers, who hold 276,000 shares (0.11 per cent) and 605,000 shares (0.25 per cent), respectively. Mr. Trang Quoc Nguyen, his younger brother, holds 561 shares (0.23 per cent).