The results of the election of additional members of the Supervisory Board for the remainder of the term 2021 – 2025 include: Mr. Cao Viet Bach; Mr. Nguyen Kien Giang; Mr. Do Manh Hung.
It is noticeable among the newly appointed personnel that holding shares in TGG such as Mr. Ngo Quang Tuan holding 2.55 million shares (9.34 % of capital), Mr. Cao Viet Bach holding nearly 162,000 shares. shares (accounting for 0.59% of capital), Mr. Do Manh Hung holds more than 1.3 million shares (4.82% of capital).
Shares fell more than 90%, the pain of shareholders “swinged to the top”
Thus, after nearly 1 year, Mr. Do Thanh Nhan (former Chairman of the Board of Directors of Louis Holdings Company, member of the Board of Directors of Louis Capital Joint Stock Company and Louis Land Joint Stock Company) was prosecuted for stock manipulation, Louis Capital (code) : TGG) and Louis Land (code: BII) have both changed their names.
Previously, Louis Land Joint Stock Company – another member of the Louis Holdings ecosystem – at the 3rd Extraordinary General Meeting of Shareholders in 2022 (in September) also changed its name to Bao Thu Industrial Development and Investment JSC. Relocating the company’s headquarters from Ho Chi Minh City. Ho Chi Minh City to Binh Thuan province. Considering at that time, after less than 2 years, Louis Land changed back to its original name.
Specifically, at the beginning of 2021, Louis Capital’s TGG stock, which was only trading around 1,000 VND/share, valued the business at that time only about 27-years-old.33 billion VND.
After Mr. Do Thanh Nhan was present at TGG, TGG stock entered a period of galloping increase to VND 12,000/share in July 2021 and it took only about 2 months after that, TGG’s market price peaked. nearly 77,000 VND/share on September 22, 2021. However, after 1 month to the top, TGG stock started to fall freely and fell one circuit to the area of 22,000 dong/share.
Similar to TGG, Louis Land’s BII shares at the end of 2020 fluctuated around VND 1,000/share, equivalent to a business capitalization of about 60 billion VND.
However, after Mr. Do Thanh Nhan was present at BII, from December 2020, BII shares had a series of ceiling increases for dozens of consecutive sessions, pushing the market price to a peak of more than 32,000 VND/share in September 2021. . Thus, in just the first 9 months of 2021, the market price of BII has also increased by about 32 times.
After the Securities and Exchange Commission spoke out about the unusual increase in the price of shares of the “Louis” group and will investigate, if detecting violations, they will be strictly handled. Up to now, TGG and BII stocks have both decreased by more than 90%, TGG is trading around the mark of 3,300 dong/share, BII is trading around the mark of 2,000 dong/share.
On April 20, 2022, the Investigation Agency issued a decision to prosecute the accused and executed a detention order for Mr. Do Thanh Nhan, chairman of Louis Holdings. After nearly a year of being arrested, on April 10, the People’s Court of Hanoi will bring Mr. Do Thanh Nhan and 7 accomplices to trial for manipulating the stock market.