IBC shares of 'Shark' Thuy are continuously being sold off by many organizations

Bao Viet Securities Company has just announced the sale of 15 million IBC shares, equivalent to about 18% of the capital of Apax Holdings Investment Joint Stock Company. These are the pledged securities owned by Egroup Education Corporation. At the close of today's session (June 23), IBC reached 2,420 VND, down 30 VND compared to yesterday. Compared to a year ago, IBC shares have plummeted nearly 90%.

Specifically, Bao Viet plans to trade from June 22 to July 12 through order matching or negotiation. Egroup is an organization related to Mr. Nguyen Ngoc Thuy - currently Chairman of the Board of Directors of Apax Holdings. In the past year, this organization has had tens of millions of IBC shares sold by the securities company.

Mr. Nguyen Ngoc Thuy - Chairman of Apax Holdings - recently committed to a roadmap for tuition refunds and interest payments to investors.

As of early April, Egroup Corporation is no longer the parent company of Apax Holdings, holding only nearly 29 million shares, equivalent to 34.81%. If Bao Viet sells the shares as planned, Egroup will only hold 14 million IBC shares, equivalent to about 17% of capital.

IBC shares have been transferred from controlled to restricted trading by HOSE since May 23. IBC investors can only trade shares in the afternoon session of the trading day.

Difficulties began to arise in the Egroup ecosystem when many Apax Leaders - Apax English centers faced a crisis of teacher salary arrears, delayed interest and principal payments to investors, and delayed tuition compensation for parents when branches closed. As the only listed company in the ecosystem, IBC shares quickly faced strong selling pressure. Not only Egroup, Shark Thuy was also continuously liquidated by securities companies.

Recently, Apax Holdings has issued a written explanation on how to overcome the situation of restricted securities trading. The company said that in the recent past, some problems have arisen in internal management. The company's completion of the 2022 financial report is facing some difficulties due to lack of personnel and the restructuring process, affecting the completion progress. Currently, IBC is working closely with the auditor to complete the 2022 financial report as soon as possible.

At the same time, IBC commits to publicly announcing the 2022 financial statements immediately after issuance, in parallel with the announcement of the 2022 Annual Report and the self-prepared report for the first quarter of 2023 in accordance with regulations...

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