SMC Chairman Pham Hoang Anh Registers to Buy 5 Million Shares, Boosting Stake to 8.14%

Overview

Pham Hoang Anh, Chairman of SMC Investment Trading (SMC, HOSE), has registered to buy 5 million SMC shares to raise his stake to 8.14%. The transaction is scheduled from August 3 to August 28, 2026. Concurrently, Bao Minh Securities (BMS, UPCoM) reduced its holding below the 5% major shareholder threshold, exiting as a significant stakeholder.

Key Facts

• Chairman Pham Hoang Anh registered to buy 5 million SMC shares, increasing his holdings from 1 million to 6 million shares.
• Post-transaction, his stake will rise from approximately 1.36% to 8.14% of SMC’s charter capital.
• The purchase will be executed via order matching or negotiated deals between August 3 and August 28, 2026.
• On June 26, 2026, Bao Minh Securities sold 1.8 million SMC shares, reducing its stake from 5.018% to 2.573%, thus ceasing to be a major shareholder.
• Bao Minh Securities had only become a major shareholder on June 16, 2026, after buying 1.2 million shares.
• SMC will close the shareholder list on August 14, 2026, for an extraordinary general meeting to approve a new governance model, transitioning from a supervisory board to an audit committee.
• In Q1 2026, SMC reported net revenue of VND 1,072.5 billion, down 41.9% year-on-year, but net profit of VND 17.2 billion versus VND 126.8 million in Q1 2025.

What Happened

According to a filing with the Ho Chi Minh City Stock Exchange (HOSE), Pham Hoang Anh, Chairman of the Board of Directors of SMC Investment Trading, registered to purchase 5 million SMC shares for investment purposes to increase his ownership. The transaction is set to occur from August 3 to August 28, 2026, via order matching or negotiated methods. If successful, his total holdings will rise to 6 million shares, representing 8.14% of the company’s capital.

In a contrasting move, Bao Minh Securities sold 1.8 million SMC shares on June 26, 2026, reducing its stake from 5.018% to 2.573%, thereby falling below the major shareholder threshold. This sale came shortly after Bao Minh Securities had become a major shareholder on June 16, 2026, by purchasing 1.2 million shares. The rapid shift in ownership highlights changing investor sentiment.

Market Context

SMC shares closed at VND 10,900 on July 29, 2026, on HOSE. The stock has faced pressure amid weak steel demand and declining revenue, with Q1 2026 revenue falling 41.9% year-on-year. However, profitability improved significantly compared to the prior year’s low base. The insider purchase by the chairman signals confidence, while the exit of Bao Minh Securities may raise questions about near-term outlook. The steel sector remains sensitive to global commodity prices and domestic construction activity.

Strategic Significance

The chairman’s substantial share purchase aligns his interests with minority shareholders and suggests a belief that SMC is undervalued. The move comes ahead of an extraordinary shareholder meeting to adopt a new governance structure, potentially improving transparency and oversight. The reduction in debt (total liabilities down 6.5% from the start of the year) and improved net profit indicate operational stabilization. However, the rapid entry and exit of Bao Minh Securities as a major shareholder may indicate short-term trading rather than long-term conviction.

What to Watch

• Completion of the chairman’s share purchase by August 28, 2026, and any subsequent filings.
• Outcome of the extraordinary general meeting on August 14, 2026, particularly the approval of the new governance model.
• Q2 2026 earnings release to assess whether revenue decline is stabilizing and profit trends continue.
• Any further insider transactions or changes in major shareholder positions.
• Steel price movements and domestic demand indicators for the second half of 2026.