Bao Minh Securities Sells SMC Stake at 11% Profit in One Week
This Aveluro analysis covers BMS on UPCOM in the Financial Services sector. The classified event type is stake change, with neutral sentiment and a deterministic market-impact score of 4.0/10. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
Bao Minh Securities (BMS) sold 1.8 million shares of SMC Trading and Investment (SMC) on June 26, reducing its ownership from 5.018% to 2.573% and ceasing to be a major shareholder. The sale came just 10 days after BMS had purchased 1.2 million SMC shares to become a major holder, generating an estimated 11% profit in the short trade.
Key Facts
- BMS sold 1.8 million SMC shares on June 26, 2026, reducing its stake from 5.018% to 2.573%.
- The sale followed a purchase of 1.2 million SMC shares on June 16, 2026, which made BMS a major shareholder.
- The average sale price was approximately VND 10,994 per share, versus an average purchase price of VND 9,925 per share.
- Estimated profit from the round-trip trade is about VND 8 billion (11% return).
- SMC’s Q1 2026 net profit rose 880% year-on-year to VND 18.5 billion, boosted by VND 73.6 billion from asset sales.
- SMC’s market capitalization stood at nearly VND 740 billion as of July 13, 2026.
- BMS shares closed at VND 14,300 on July 13, 2026, on UPCOM.
What Happened
According to a filing, Bao Minh Securities (BMS) sold 1.8 million shares of SMC on June 26, 2026, via negotiated transactions. The sale reduced BMS’s holding from over 3.69 million shares (5.018%) to about 1.89 million shares (2.573%), removing its status as a major shareholder. The transaction value was nearly VND 20 billion, implying an average price of VND 10,994 per share.
Just 10 days earlier, on June 16, BMS had purchased 1.2 million SMC shares at an average price of VND 9,925 per share, totaling nearly VND 12 billion. The quick round-trip trade yielded an estimated profit of approximately VND 8 billion, or an 11% return. The negotiated transaction volumes on both dates matched BMS’s disclosed trades.
Market Context
SMC, a long-established steel trading company founded in 1988, has seen its business deteriorate since 2022 due to falling steel prices and difficulty collecting receivables from construction and real estate clients. Q1 2026 revenue fell 42% year-on-year to VND 1,072 billion, though net profit surged 880% to VND 18.5 billion, largely from asset sales. SMC shares closed at VND 10,050 on July 13, 2026, giving a market cap of ~VND 740 billion. BMS trades on UPCOM at VND 14,300.
Strategic Significance
The rapid stake change by BMS illustrates opportunistic trading by a securities firm in a distressed steel name. SMC’s reliance on one-off asset sales for profitability raises questions about its core business recovery. BMS’s short-term profit-taking suggests limited conviction in SMC’s long-term turnaround, despite the Q1 earnings spike. The trade also highlights the liquidity and volatility in small-cap steel stocks on HOSE.
What to Watch
- SMC’s Q2 2026 earnings report to see if core operations improve or if asset sales continue.
- Any further stake changes by major shareholders Hanwa Co. (27.6%) or CEO Nguyen Quang Trung (8%).
- Steel price trends and construction sector demand in Vietnam.
- BMS’s future trading activity in SMC or other steel stocks.
- Regulatory filings for any additional negotiated transactions in SMC shares.