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At the close of trading on May 8, 2026, Coteccons Construction Joint Stock Company’s CTD stock continued to fall, down nearly 5% to 76,800 dong per share—the lowest level in about a month. Earlier in the session, CTD traded at the floor price of 75,000 dong per share before buying demand helped narrow the decline toward the close.
The move suggests that assurances from the company’s management have not yet eased market sentiment. After only two trading days, CTD has shed almost 12% of its value, bringing its market capitalization back below 8.6 trillion dong. Selling pressure appears to be continuing despite recent comments by Coteccons chairman Bolat Duisenov posted on his personal Facebook page.
In the post, Bolat Duisenov wrote: “Rumors can form overnight, but value takes time to build. To the Market, there is no sudden turning point here, only work.”
CTD’s reversal came after Coteccons reported positive business results, with profit rising sharply. In its consolidated financial statements for the fiscal year ending March 31, 2026, the company reported that third-quarter 2026 net revenue reached over 6,409 billion dong, up 28.12% year over year. Net profit after tax was nearly 119 billion dong, up 108% from 57 billion dong in the third quarter of 2025.
For the nine months ended March 31, 2026, Coteccons recorded net revenue of 23,868 billion dong and net profit after tax of 641.6 billion dong.
Separately, Coteccons’ board approved a plan to issue more than 5.3 million additional shares to increase charter capital at a ratio of 20:1. After the issuance, the company’s charter capital is expected to exceed 1,140 billion dong.
On personnel matters, the board decided to dismiss Nguyen Van Dua from the positions of Deputy General Director and Chief Financial Officer effective April 26, 2026, following his resignation request for personal reasons. Nguyen Van Dua, born in 1978, is an economics graduate with more than 25 years of experience in finance, accounting, compliance, and investment trading. Before joining Coteccons, he worked at Masan, Bibica, Thao Dien Investments, and Kusto Group. He was appointed Deputy General Director of Coteccons in October 2024. At the end of 2025, he held 144,600 CTD shares.
The price adjustment also occurred shortly after Coteccons announced it had received a court ruling recognizing a settlement between the parties in a business and commercial litigation case. According to disclosed information, on May 5, 2026, Coteccons received Decision No. 1178/2026/QĐST-KDTM dated April 21, 2026 from the People’s Court of District 5, Ho Chi Minh City, recognizing the settlement in case No. 1422/2024/TLST-KDTM filed in July 2024. The parties reached a settlement, though the company did not disclose details of the case.
Coteccons has also been involved in a long-running dispute with CTCP Đầu tư Ricons (Ricons). In late May 2025, the Ho Chi Minh City Civil Judgment Enforcement Office issued Decision No. 319/QĐ-CTHADS regarding the freezing of Coteccons’ assets amounting to nearly 170 billion dong.
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