Mr. Le Hong Minh’s assets increased by more than 1,000 billion dong in a few days thanks to VNG stock

Since February 1, shares of VNG Joint Stock Company (UpCom code: VNZ) have hit the ceiling for 5 consecutive sessions. Owning more than 3 million VNZ tickers, Mr. Le Hong Minh – CEO of VNG – more than doubled his stock assets in less than 10 days.

As of the trading session on February 7, the VNZ code traded at 587.5 thousand VND/share, reaching the ceiling price. In all trading sessions from last week until now, VNZ code has continuously stayed in purple color, with maximum growth rate (nearly 15%).

Compared to the price of 240,000 VND since the listing, until now the shares of the leading game publisher in Vietnam have more than doubled.

Owning 3,525,837 shares, VNG CEO Le Hong Minh currently has a fortune of more than VND 2 trillion.

Mr. Le Hong Minh at an event in 2017. (Photo: Hai Dang)

In 5 consecutive trading sessions, each session of VNZ only stopped at 100 shares, empty on the sell side, showing that 28.7 million VNZ codes are being held by investors, with no intention of selling. go out.

According to previously leaked information, the company that owns Zalo and Zing products intends to list on the New York Stock Exchange. There is still no official information to deny or confirm whether VNG will continue to raise the dream of issuing shares on Nasdaq.

VNG is allowed to list VNZ code on UpCom from January 5, 2023.

Currently, the company has 3 major shareholders, both individuals and businesses. Including: VNG Limited (headquartered in Cayman Islands) holds 49% of charter capital (61.1% of outstanding shares), BigV Technology JSC owns 4.6% of charter capital (5.7% of outstanding shares) outstanding shares). Particularly, CEO Le Hong Minh holds 9.8% of charter capital (12.3% of outstanding shares).

According to the announced third quarter consolidated financial statements, VNG achieved net revenue of VND 2,100 billion, down 3.7% over the same period. The company suffered a loss after tax of VND 254.5 billion, due to a loss of VND 27.6 billion from associates and other losses of VND 26.1 billion.

In the first 9 months of the year, VNG suffered a loss after tax of VND 764 billion. Revenue after 9 months reached VND 5,763 billion, up slightly compared to the same period last year.

In 2014, VNG was valued at 1 billion USD, becoming the first unicorn in Vietnam.

In 2019, Temasek investment fund valued VNG at $2.2 billion (equivalent to VND 1.8 million/share). In 2021, fund management company Mirae Asset spends buying shares of VNG at the price of 1.7 million VND/share.

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