Mernus Investment Joint Stock Company Investment becomes a significant shareholder in TEG after bought 6.1 million shares

Mernus Investment Joint Stock Company , an investment enterprise that bought 6.1 million shares of Truong Thanh Energy and Real Estate JSC (stock symbol TEG - HOSE), became a major TEG shareholder.

Specifically, Mernus Investment Joint Stock Company Investment bought 6.1 million TEG shares on August 24 by an agreement. After the deal, Mernus Investment Joint Stock Company Investment owned 6.1 million shares, a rate of 18.84%, and became the second-largest shareholder in TEG. Previously, this firm did not hold any shares of TEG.

The 14,750 VND/share price on August 24 estimated that Mernus Investment Joint Stock Company Investment has to spend approximately 90 billion VND for this deal.

On the other hand, Mr. Hoang Dinh Loi, Vice-Chairman of TEG's Board of Directors, sold 1.25 million shares, a rate of 3.86% from August 16 to August 24 by agreement method. Currently, Mr. Loi still holds 125,704 TEG shares, by 0.39%.

At the same time, Mrs. Do Thi Thanh Huyen, the wife of Mr. Dang Tran Quyet, Deputy General Director of TEG, also sold all 596,200 TEG shares, by 0.02%.

In terms of business results accumulated in the first half of 2021, TEG increased 82.5% in revenue to 144.3 billion VND, completing 32.8% of the revenue target (440.15 billion VND). Net profit increased by 1,888.7% to VND 12.3 billion, fulfilling 13% of the year's profit target (VND 94.26 billion).

On the stock market, at the end of the trading session on August 27, TEG shares fell 8.5% to 12,350 VND/share, the trading volume reached more than 208,700 units.

Mr. Nguyen Anh Tuan, CEO of Mernus Investment Joint Stock Company Investment commented: "We take great pride to have been able to acquire the shares and are certain that this step will pave the way for a successful future of Mernus Investment Joint Stock Company Investment and all of its stakeholders."