ACFC has registered to sell 2.7 million Sasco shares to rebalance its investment portfolio, VnExpress reported. The planned transaction period extends to December 2. Registration is an intention to trade, not confirmation that the shares have been sold.
The projected holding is conditional
A completed sale would reduce ACFC’s stake from almost 20 million shares to approximately 17.2 million, or 12.89% of Sasco. That prospective position must be distinguished from a verified post-transaction holding.
ACFC distributes premium fashion and belongs to the Imex Pan Pacific group associated with Johnathan Hạnh Nguyễn and Lê Hồng Thủy Tiên’s family. VnExpress identifies Tiên as a board member of both ACFC and Sasco and an executive of the group.
The family entered Sasco during its 2014 equitisation. Related companies subsequently increased their combined holding to 47.5%, particularly during 2016-2017. Two group companies sold smaller amounts the previous year.
Reference value is not sale proceeds
At the report’s cutoff, Sasco shares had fallen for six sessions from VND37,000 to VND34,500. That price implies a value above VND92 billion for the planned block, rather than money already received.
Sasco recorded nine-month revenue of VND2,333 billion and after-tax profit of approximately VND540 billion. Its annual targets are VND3,450 billion in revenue and VND802 billion in pre-tax profit. The next evidence is the transaction-result disclosure, which will establish the quantity actually sold and the remaining stake.