DIC Corp Chairman's Family Hit by Margin Call on 1.8M DIG Shares

Overview

Nguyen Hung Cuong, Chairman of DIC Corp (DIG), along with his mother and sister, were forced to sell nearly 1.8 million DIG shares via margin call on May 25. This follows a prior forced sale of nearly 12 million shares in early March. The company reported a Q1 2026 net loss of over VND 10 billion, though narrowing from the prior year.

Key Facts

• Chairman Nguyen Hung Cuong was forced to sell 853,000 DIG shares on May 25 via margin call, reducing his stake to 5.66%.
• His mother, Le Thi Ha Thanh, was forced to sell 304,000 shares, reducing her stake to 1.69%.
• His sister, Nguyen Thi Thanh Huyen, was forced to sell 630,000 shares, reducing her stake to 1.36%.
• Total forced sale by the chairman’s family on May 25: nearly 1.8 million shares.
• In early March (March 6-11), nearly 12 million DIG shares of related parties were also margin-called, with a total face value of over VND 119 billion.
• DIC Corp reported Q1 2026 net revenue of VND 145 billion, down 5% YoY, and a pre-tax loss of over VND 10 billion (narrowing from a VND 37 billion loss in Q1 2025).
• For 2026, the company targets consolidated pre-tax profit of VND 600 billion, down 27% YoY.
• DIG shares closed at VND 13,500 on May 28, down about 20% year-to-date.

What Happened

According to a filing by DIC Corp (DIG) on the Ho Chi Minh Stock Exchange, Chairman Nguyen Hung Cuong was forced to sell 853,000 DIG shares on May 25 via margin call by his securities company. The transaction was executed through order matching on the exchange. Following the sale, Cuong’s holdings decreased to over 45 million shares, representing 5.66% of the company’s capital.

Additionally, two family members were also affected. Cuong’s mother, Le Thi Ha Thanh, was forced to sell 304,000 shares, reducing her stake to 1.69%. His sister, Nguyen Thi Thanh Huyen, was forced to sell 630,000 shares, bringing her stake to 1.36%. All transactions occurred on May 25. This follows a previous margin call in early March (March 6-11) when nearly 12 million DIG shares held by parties related to the chairman were sold, with a total face value of over VND 119 billion.

Market Context

DIG shares closed at VND 13,500 on May 28, down 1.82% on volume of 4.3 million shares. The stock has declined approximately 20% since the start of 2026, reflecting ongoing selling pressure from margin calls and weak financial performance. DIC Corp is listed on HOSE and operates in the real estate sector. The company’s Q1 2026 net loss of over VND 10 billion, while narrower than the VND 37 billion loss in Q1 2025, highlights continued operational challenges.

Strategic Significance

The repeated margin calls on the chairman’s family holdings signal significant financial strain on the controlling shareholder, which may raise governance concerns for minority investors. The forced sales also increase the free float and could weigh on the stock price in the near term. DIC Corp’s 2026 targets of VND 3,000 billion in revenue and VND 600 billion in pre-tax profit appear ambitious given the Q1 performance (only 5% of revenue target achieved). The company’s ability to execute its business plan and stabilize its share price will be key for investor confidence.

What to Watch

• Further margin calls or forced sales by related parties, which could indicate ongoing liquidity stress.
• Q2 2026 earnings release to assess whether the company can narrow losses and move toward profitability.
• Any corporate actions such as asset sales, capital increases, or restructuring to address financial challenges.
• Changes in foreign ownership limits or major shareholder stakes that could affect stock liquidity.
• Updates on the company’s real estate projects and progress toward its 2026 revenue and profit targets.