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Vinaconex has approved a plan to acquire 2.23 million GTD shares, representing 24.03% of Giầy Thượng Đình Joint Stock Company’s charter capital, without disclosing the identity of the transfer partner. The move comes as Giầy Thượng Đình’s shareholder structure has been changing, with major holders reducing stakes and new investors increasing exposure.
As of April 2, 2026, Giầy Thượng Đình had 9.3 million shares outstanding held by 97 shareholders. The two largest holders together controlled 8.6 million shares, accounting for 92.66% of voting shares: Ms. Mai Huyền Trang held nearly 6.4 million shares (68.66%), while Long Hải Investment and Development Trading JSC held over 2.2 million shares (24%). The remaining 95 non-major shareholders held 682,200 shares (7.34%).
With fewer than 100 non-major investors holding at least 10% of voting shares, Giầy Thượng Đình did not meet the ownership restructuring condition required for public-company status.
Despite the company not meeting the public-company criterion, the shareholder mix has shifted as Ms. Mai Huyền Trang repeatedly reduced her holdings. Reports indicate she sold 1.35 million GTD shares on April 3, bringing her ownership to just over 5 million shares (54.15%). In the two sessions on April 7 and 8, she sold nearly 2.98 million GTD shares, reducing her stake to 2.06 million shares (22.13%).
In contrast, CTCP Yen Thủy Mineral Investment bought more than 1.4 million GTD shares on April 7, lifting its stake to 5.47% of charter capital.
A newly formed company, An Quý Hưng Holding, also emerged as a major shareholder after purchasing 1.8 million GTD shares over two trading days (April 3 and April 7, 2026). Its stake increased from 459,200 shares (4.94%) to 2.23 million shares (24%).
An Quý Hưng Holding has charter capital of 500 billion VND. Mr. Nguyen Xuan Dong contributed 79.2%, Mrs. Do Thi Thanh 19.2%, and CEO Nguyen Xuan Tung 1.6%. Mr. Nguyen Xuan Dong is also known as Vinaconex’s CEO.
In November 2025, An Quý Hưng Holding became the owner of 99.99% of An Quý Hưng Co., Ltd. In November 2021, An Quý Hưng contributed 99.92% of capital to establish Pacific Holdings, which is now Vinaconex’s largest shareholder.
Before the Giầy Thượng Đình acquisition, Vinaconex also approved the purchase of 18 million shares (18% of charter capital) at Viwaseen in April 2026. If Viwaseen’s charter is nearly 56.57 million shares (97.5%), Vinaconex’s stake would decline to around 14.5 million shares (25%), and the transaction could bring approximately 1,261.9 billion VND.
Separately, Vinaconex approved a continued plan to reduce its stake in Viwaseen by selling more than 42.06 million Viwaseen shares as part of investment restructuring. The planned trading window runs from April 23 to May 22, 2026. If completed, Vinaconex’s stake would fall from about 56.57 million shares (97.5%) to more than 14.5 million shares (25%), potentially generating more than 1,261.9 billion VND in proceeds.
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