BT1 Chairman and Two Major Shareholders Sell 27.1% Stake Ahead of Extraordinary Meeting

Overview

Three major shareholders, including Chairman Đặng Văn Thông, sold a combined 27.1% stake in CTCP Bảo vệ Thực vật 1 Trung ương (UPCoM: BT1) on October 9, 2026. A new investor, Đào Xuân Thọ, bought 17.95% and became a major shareholder. The transactions come ahead of an extraordinary shareholders’ meeting on December 4 that will consider board and supervisory board resignations and additions for the 2026–2031 term.

Key Facts

• Chairman Đặng Văn Thông sold 1.3 million BT1 shares on October 9, reducing his ownership from 22.7% to 9.7% (970,162 shares).
• Đặng Quỳnh Trang sold her entire 1.06 million shares (10.63% stake), exiting the shareholder list.
• Doãn Thị Hằng sold 350,000 shares, cutting her stake from 5.79% to 2.29% and ceasing to be a major shareholder.
• The three individuals sold a total of more than 2.71 million shares, equivalent to approximately 27.1% of BT1’s charter capital.
• Đào Xuân Thọ bought nearly 1.8 million shares, raising his ownership from 0% to 17.95% and becoming a major shareholder.
• On October 9, more than 3.87 million BT1 shares were traded, equal to nearly 39% of shares outstanding.
• BT1 will close its shareholder list on November 5 and hold the extraordinary meeting on December 4, 2026.

What Happened

According to transaction reports published by HNX on October 16, Chairman Đặng Văn Thông sold 1.3 million BT1 shares on October 9, 2026, reducing his ownership from 22.7% to 9.7%. On the same day, Đặng Quỳnh Trang sold her entire holding of more than 1.06 million shares, or 10.63% of the company, and exited the shareholder list. Another major shareholder, Doãn Thị Hằng, sold 350,000 shares, lowering her stake from 5.79% to 2.29% and no longer qualifying as a major shareholder. In total, the three individuals sold more than 2.71 million shares, equivalent to about 27.1% of BT1’s charter capital.

In the opposite direction, Đào Xuân Thọ bought nearly 1.8 million BT1 shares, increasing his ownership from 0% to 17.95% and becoming a major shareholder. The article states that there is no confirmation that these buy and sell transactions are directly related. The ownership changes coincided with a surge in BT1’s trading liquidity: on October 9, more than 3.87 million shares were traded, representing nearly 39% of the company’s outstanding shares. Previously, Board Member Nguyễn Đức Dũng registered to buy nearly 1.6 million shares for investment purposes, but the result of that registration has not been confirmed.

Market Context

BT1 trades on the UPCoM exchange and closed at VND 10,500 on October 14, 2026. The company operates in the pesticide production and trading sector, with charter capital of approximately VND 100 billion, corresponding to more than 10 million shares outstanding. The large block trades on October 9 generated liquidity equal to nearly 39% of shares outstanding, a significant spike for a small-cap UPCoM stock. The ownership reshuffle occurs as BT1 plans 2026 revenue of VND 355 billion and after-tax profit of VND 13 billion. The broader Vietnamese market context is not detailed in the source article.

Strategic Significance

The simultaneous exit of the Chairman and two major shareholders, alongside the entry of a new investor holding 17.95%, signals a potential shift in control or strategic direction at BT1. The extraordinary meeting on December 4 will consider resignations and additional elections for the Board of Directors and Supervisory Board for the 2026–2031 term, suggesting governance changes are imminent. For long-term investors, the key question is whether the new major shareholder will influence BT1’s strategy in the fragmented pesticide sector, where scale and distribution networks are critical. The company’s modest profit target of VND 13 billion on VND 355 billion revenue implies thin margins, making operational efficiency and capital allocation central to any turnaround or growth thesis.

What to Watch

• The extraordinary shareholders’ meeting on December 4, 2026, including votes on board and supervisory board changes.
• Confirmation of Nguyễn Đức Dũng’s registered purchase of nearly 1.6 million shares.
• Any disclosure of the relationship or coordination between the selling shareholders and the new investor, Đào Xuân Thọ.
• BT1’s 2026 business performance against its revenue and profit targets.
• Further changes in major shareholder structure or foreign ownership, if applicable.