Steelmaker Hoa Phat chairman’s son to increase stake in company

The deal, estimated at VND300 billion ($13.05 million), will take Tran Vu Minh’s total holding to 53 million shares, or 1.6 percent of the company’s capital.

Long and his family will own over 1.1 billion shares, or over 35 percent.

He owns 26.08 percent and his wife, 7.34 percent. A company owned by Minh owns another 0.05 percent.

Long has said he is committed to only buying HPG shares and has no intention to sell any.

Hoa Phat will pay a 5 percent dividend in cash and 35 percent in shares for 2020.