KDH Deputy CEO Buys 20M Shares; Stake Rises to 1.838%

Overview

Deputy General Director of Khang Dien House (KDH) Ly Tuan Kiet has purchased 20 million KDH shares on the Ho Chi Minh Stock Exchange (HOSE), increasing his ownership from 0.056% to 1.838% of charter capital. The transaction occurred between July 23 and August 21, 2026, and coincides with the company’s board approval to establish a subsidiary for a major urban renovation project in Ho Chi Minh City.

Key Facts

• Ly Tuan Kiet bought 20 million KDH shares via matching orders from July 23 to August 21, 2026.
• His stake rose from 623,635 shares (0.056%) to 20.6 million shares (1.838%).
• Ly Tuan Kiet is the son of Ly Dien Son, Vice Chairman of KDH’s Board of Directors.
• KDH approved the establishment of a wholly-owned subsidiary, Khang Phuc An Investment One Member LLC, with charter capital of VND 2,500 billion.
• The subsidiary will execute a BT contract for the Mả Lạng and Chợ Gà - Gạo urban renovation project in District 1, HCMC.
• The project covers approximately 42,090.5 m², with preliminary total investment of nearly VND 16,369.5 billion.
• Construction is scheduled from 2026 to 2029, with completion and handover expected in 2029.

What Happened

According to a filing with the Ho Chi Minh Stock Exchange, KDH Deputy General Director Ly Tuan Kiet reported the purchase of 20 million KDH shares through matched orders during the period from July 23 to August 21, 2026. This transaction raised his holdings from 623,635 shares (0.056% of charter capital) to 20.6 million shares (1.838%). Ly Tuan Kiet is also known as the son of Ly Dien Son, Vice Chairman of KDH’s board.

In a separate development, KDH’s board approved the establishment of a wholly-owned subsidiary, Khang Phuc An Investment One Member LLC, with charter capital of VND 2,500 billion. The subsidiary will sign and implement a Build-Transfer (BT) contract for the Mả Lạng and Chợ Gà - Gạo urban renovation project in wards Cầu Ông Lãnh and Bến Thành, HCMC. The project, to be developed under a public-private partnership (PPP) model, includes two sub-areas: Mả Lạng (about 37,740.5 m²) and Chợ Gà - Gạo (about 4,350 m²). It will involve infrastructure, social housing (including high-rise apartments of 38 and 35 stories), and resettlement housing. The preliminary total investment is nearly VND 16,369.5 billion, with payment via land funds (about VND 10,734.7 billion) and city budget funds.

Market Context

KDH shares closed at VND 18,000 on August 21, 2026, the final day of the insider purchase window. The stock has been under pressure amid a sluggish real estate market, but the insider buying and the approval of a large-scale urban project may signal management’s confidence in the company’s long-term prospects. KDH is listed on HOSE and is a prominent player in the HCMC residential real estate sector.

Strategic Significance

The insider purchase by a senior executive and family member of the board vice chairman demonstrates alignment with shareholders and confidence in KDH’s strategic direction. The Mả Lạng and Chợ Gà - Gạo project, though complex and capital-intensive, positions KDH to participate in urban renewal in prime HCMC locations, potentially unlocking significant land value. The BT contract structure, with payment via land funds, could provide long-term revenue streams and enhance KDH’s land bank in the city center.

What to Watch

• Official establishment of Khang Phuc An Investment One Member LLC and any capital contributions.
• Progress on the BT contract signing and project implementation milestones, including the expected Q3 2026 groundbreaking.
• KDH’s quarterly earnings reports for 2026 to assess financial health and ability to fund the project.
• Any further insider transactions by key executives or board members.
• Regulatory approvals and land clearance progress for the Mả Lạng and Chợ Gà - Gạo areas.