PVTrans chairman halts planned share sale as price cools

PVTrans chairman halts planned share sale as price cools. After registering to sell 200,000 shares amid a surge in price, PVTrans Chairman Pham Viet Anh did not execute any transaction and maintained his current ownership stake. According to a report published on 10/04, Mr. Pham Viet Anh, Chairman of the PVTrans Joint Stock Company (HOSE: PVT), did not sell any shares during the registration window from 11/03 to 09/04. Previously, Mr. Viet Anh had registered to sell 200,000 shares, equivalent to about 0.043% of charter capital, to meet personal financial needs. However, the final trade volume was 0 shares sold. The stated reason is that his personal financial needs had already been arranged. After the transaction window, the leadership still held 262,658 shares, equal to 0.056% of charter capital, unchanged from before. Market movement in PVTrans followed a period of sharp volatility. From late February to early March, the stock rose repeatedly, at times surpassing 30,000 dong per share — the highest level since listing — with liquidity surging. The price then corrected quickly and is currently around 22,000 dong per share. The rally was tied to developments in the global energy market. Geopolitical tensions in the Middle East raised concerns about supply, lifting oil transportation costs. As ship charter rates rose, expectations for the earnings of oil-and-gas shipping groups like PVTrans improved, attracting capital into the stock. Pham Viet Anh, born 1971, has more than 30 years of experience in the oil-and-gas and shipping sectors. He has held numerous management roles within units in the PetroVietnam ecosystem and served as PVTrans Chief Executive Officer for many years before moving to the role of Chairman in 2021. Despite short-term price movements, some securities firms maintain positive views on this stock in the medium term. SSI notes that PVTrans’ prospects are supported by elevated ship charter rates and the company’s fleet-expansion strategy. Vietcombank Securities (VCBS) also suggests the company could benefit from geopolitical developments, while the fleet size has expanded in recent years. - See also: ‘PVTrans chairman seeks to lock in profits worth billions as stock hits a peak’ (external link)