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At the 2026 Annual General Meeting of Shareholders of Phat Dat Real Estate Development Joint Stock Company (PDR) on April 16, shareholders focused on notable share price movements and the company chairman’s recent trading activities.
In September 2025, PDR Chairman Nguyen Van Dat sold 88 million shares through a negotiated method during September 5–18, 2025. The average sale price was 23,992 dong per share, and the transaction value was estimated at more than 2.1 trillion dong.
In early April 2026, he also executed a market-on-close purchase of 3 million PDR shares when the stock was about 12% lower year-to-date. The average purchase price was over 15,800 dong per share, and the total value of the trade was estimated at over 47 billion dong.
Explaining the buy-sell decisions, the chairman said each trade had a specific objective. He stated that selling shares was intended to proactively secure financial resources when needed, while the buyback reflected his view that the current price was reasonable and that he had available funds.
He added that if the goal were simply to maximize personal gains, he could have waited for higher prices, noting that he sold around the 25,000 dong per share range rather than waiting for levels such as 30,000–40,000 dong per share, or even 50,000 dong per share. He also said personal buy-sell activities are part of asset restructuring while emphasizing his commitment to the company.
For 2026, PDR targets total revenue (including financial income and share transfers within subsidiaries) of 8,830 billion dong and net profit after tax of 868 billion dong, representing a 69% year-over-year increase from 2025.
The company also approved a development strategy for 2026–2030, setting cumulative revenue of around 45,000 billion dong and after-tax profit of nearly 11,800 billion dong.
On dividends, PDR plans to pay at least 8% of charter capital in 2026, which may be paid in cash, stock, or a combination. The timing for interim and final payments will be determined by the Board of Directors.
At the AGM, shareholders approved a plan to issue nearly 200 million shares to existing shareholders at 10,000 dong per share, with a ratio of 5:1. The issuance is expected to raise nearly 2,000 billion dong and increase charter capital to about 12,300 billion dong.
The raised capital is expected to strengthen working capital and support M&A activities for projects in Da Nang and other key areas.
The chairman also mentioned the possibility of pausing the Phan Dinh Phung Sports Center project in Ho Chi Minh City, which has total investment of 1,954 billion dong. The project covers about 14,000 square meters and is expected to host national and regional competitions.
Separately, PDR is progressing as a candidate strategic investor for the Thủ Thiêm Eco Smart City project by Lotte, with total investment exceeding 50,000 billion dong. The chairman said PDR is currently the second applicant. He noted that to contribute 35% of the project, PDR would need to demonstrate financial capacity of around 15,000 billion dong, highlighting the high funding requirements and the challenges of fundraising during a real estate market cleansing cycle.
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