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Before the stock market fell sharply, executives of several listed companies faced forced selling of pledged shares as margin calls intensified. DIC Corp (DIG) said the chairman’s family has been at the center of the current margin-call wave, with large blocks of DIG stock repeatedly sold by brokers.
DIC reported that Chairman Nguyen Hung Cuong was forced to sell nearly 9.4 million shares in the first two trading sessions of March. The sales reduced his ownership from 7.93% to 6.76%. In early March, Vice Chairman of the Board Nguyen Thi Thanh Huyen—Cuong’s sister—sold more than 1.2 million shares.
By the morning session of March 9, MB Securities (MBS) continued to announce plans for the forced sale of another 740,500 shares belonging to Ms. Huyen. Ms. Le Thi Ha Thanh, Cuong’s mother, also faced forced selling of more than 1.3 million shares.
In total, more than 17.7 million DIG shares linked to the chairman’s family had been sold since the start of 2026 as the stock price declined. DIG closed the second trading day of the week (Mar 9) at the floor price of 12,700 dong per share.
The group associated with the chairman of Hodeco (HDC) also experienced a major margin-call episode after the stock price fell by more than 50% since October 2025.
According to the report, Doan Huu Thuan, Chairman of Hodeco, was matched to sell 1.57 million shares between March 3 and March 5. Doan Huu Ha Vinh, Deputy General Director and Thuan’s son, was forced to sell 770,400 shares, while Nguyen Thi Thanh Ha, Thuan’s wife, sold 267,800 shares.
Overall, more than 2.6 million HDC shares linked to the chairman’s family were sold in the early March sessions. HDC was also at the floor, trading around 17,300 dong per share.
Selling pressure from margin calls occurred as the Vietnamese stock market faced negative influences from global geopolitical developments, including the Middle East conflict that pushed oil above $110 per barrel. The VN-Index briefly fell more than 100 points after the open, marking a record for a sharp decline.
Real estate was identified as the sector under the heaviest margin-call pressure due to a prolonged downtrend since late 2025. Many stocks reportedly saw a lack of buyers, leading brokers to liquidate margin positions at any price to maintain safety ratios.
Reported by Son Nhung.
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