LPT Stock: Nguyen Thuy Loan Becomes Major Shareholder With 6.96% Stake

Overview

Nguyen Thuy Loan acquired 835,000 shares of Lập Phương Thành (ticker LPT, UPCOM), equal to 6.96% of charter capital, in the October 29 trading session, according to a disclosure published November 3. The purchase lifted her holding from zero and made her a major shareholder, while existing major shareholder Phan Quang Tiep sold exactly 835,000 shares the same day. LPT is the only listed driver-training company on the Vietnamese market.

Key Facts

• Nguyen Thuy Loan bought 835,000 LPT shares on October 29, 2026, moving from 0 to 6.96% of charter capital.
• Phan Quang Tiep sold 835,000 LPT shares the same day, cutting his stake from 1.635 million shares (13.62%) to 800,000 shares (6.67%).
• Trading data for October 29 shows a single put-through block of exactly 835,000 LPT shares, matching both reported transactions.
• Chairman Phạm Anh Tuấn completed a purchase of 520,250 LPT shares on October 14, raising his holding from 886,000 shares (7.38%) to more than 1.4 million shares (11.72%).
• Lập Phương Thành has charter capital of VND 120 billion, equivalent to 12 million shares outstanding on UPCOM.
• LPT closed unchanged at VND 5,900 per share on November 3, down more than 10% from around VND 6,600 in mid-October.
• Q3 2026 net revenue reached nearly VND 159 billion versus roughly VND 74 billion a year earlier, but after-tax profit fell to about VND 2 billion from nearly VND 4 billion.

What Happened

The disclosures, published November 3, report that Nguyễn Thúy Loan acquired 835,000 LPT shares in the October 29 session, taking her ownership from zero to 6.96% of charter capital and crossing the threshold that designates a major shareholder. In the same session, Phan Quang Tiệp, previously a major shareholder, sold an identical 835,000 shares, reducing his position from 1.635 million shares, or 13.62%, to 800,000 shares, or 6.67%.

Market trading data for October 29 records a put-through transaction of exactly 835,000 LPT shares, matching both the purchase and the sale in size. The article states it is highly likely the entire block changed hands between the two individuals via negotiated transfer rather than on-screen trading. Separately, Chairman Phạm Anh Tuấn completed a purchase of 520,250 LPT shares on October 14, lifting his stake from 7.38% to 11.72%.

Market Context

LPT trades on UPCOM, the unlisted public company market, and its liquidity is exceptionally thin. The stock closed flat at VND 5,900 on November 3, down more than 10% from roughly VND 6,600 in mid-October. Volume on November 2 was just 300 shares, and the stock recorded zero-volume sessions on October 2, October 6 and October 14. The company is the only driver-training and testing business with a listed share, alongside a building-materials and plastics trading operation.

Strategic Significance

The ownership shift concentrates control among a small group of individual holders rather than changing the operating business. Chairman Phạm Anh Tuấn now holds 11.72%, Nguyễn Thúy Loan holds 6.96% and Phan Quang Tiệp retains 6.67%, meaning three individuals account for roughly a quarter of a 12-million-share float. For long-term investors, the relevant question is governance and intent: whether the new major shareholder is a passive financial holder or aligned with management. The Q3 results show revenue roughly doubling while profit halved, so margin pressure from cost of goods and operating expenses is the operating issue that ownership changes do not address.

What to Watch

• Any further buy or sell disclosures from Nguyễn Thúy Loan, Phan Quang Tiệp or Chairman Phạm Anh Tuấn filed with the exchange.
• The next major-shareholder and board ownership report, which would clarify whether the three holders act in concert.
• Q4 2026 and full-year financial statements, to test whether revenue growth converts into profit after the Q3 margin squeeze.
• Daily put-through and matched volume on UPCOM, given repeated zero-liquidity sessions.
• Any corporate action on the VND 120 billion charter capital, such as a planned issuance or dividend.