Major Shareholder Truong Thuan Sells 9M CEO Group Shares, Stake Drops to 6.67%

Overview

Truong Thuan Investment and Trading Co., Ltd., a major shareholder of CEO Group (CEO), sold 9 million shares over two trading sessions on April 7-8, 2026, reducing its ownership from 7.91% to 6.67%. The company cited financial needs as the reason for the divestment. This transaction occurs as CEO Group prepares for its rescheduled 2026 Annual General Meeting of Shareholders (AGM), where it will propose significant business plan revisions and a 5% stock dividend.

Key Facts

• Truong Thuan sold 2 million CEO shares on April 7, 2026, and 7 million shares on April 8, 2026.
• The stake reduction totals 9 million shares, lowering ownership from approximately 44.9 million shares (7.91%) to about 37.9 million shares (6.67%).
• Truong Thuan became a major shareholder after purchasing 42.5 million CEO shares (8.26% of charter capital) on September 29, 2023.
• CEO Group’s rescheduled 2026 AGM is set for April 24, 2026, after the initial March 27 meeting failed due to insufficient voting shares (30.6% attendance).
• The company will propose a 2026 business plan targeting consolidated revenue of VND 3,000 billion (+124% vs 2025) and post-tax profit of VND 300 billion (+50% vs 2025).
• A 5% stock dividend for 2025 is proposed, involving issuance of over 28.3 million new shares.
• CEO Group proposes adding 46 business lines (e.g., computer manufacturing, wooden furniture) and removing 32 lines (e.g., hotel services, real estate brokerage).

What Happened

According to a filing reported by the company, Truong Thuan Investment and Trading Co., Ltd. executed two separate sales of CEO Group shares on consecutive trading days. On April 7, 2026, the shareholder sold 2 million shares, followed by a sale of 7 million shares on April 8, 2026. The company stated both transactions were driven by financial needs. This reduced Truong Thuan’s holdings from nearly 44.9 million shares (7.91%) to approximately 37.9 million shares (6.67%).

The share sale occurs alongside corporate developments at CEO Group. The company has rescheduled its 2026 Annual General Meeting of Shareholders for April 24, 2026, after the initial meeting on March 27 failed to achieve quorum with only 30.6% of voting shares represented. Documents for the upcoming meeting outline ambitious 2026 targets, a stock dividend, and significant revisions to the company’s business scope.

Market Context

CEO Group (CEO) is listed on the Ho Chi Minh City Stock Exchange (HOSE) and operates primarily in Vietnam’s real estate sector. The divestment by a major shareholder who entered the stock in late 2023 may influence near-term trading sentiment, particularly as it precedes a critical shareholder vote on the company’s strategic direction. The proposed 2026 targets represent a substantial year-over-year growth projection from 2025 results, where the company reported consolidated revenue of VND 1,339 billion (+2%) and post-tax profit exceeding VND 200 billion (+20%).

Strategic Significance

The share sale by Truong Thuan, a non-core financial investor whose primary business is motorcycle sales, suggests a potential shift in shareholder composition as CEO Group embarks on a transformative year. The proposed expansion into 46 new business lines—including technology and manufacturing—while exiting 32 existing lines (notably some real estate services) indicates a strategic pivot beyond traditional real estate. This repositioning, coupled with aggressive financial targets, will require sustained investor confidence, which may be tested by insider selling activity.

What to Watch

• Outcome of the rescheduled AGM on April 24, 2026, particularly the vote on the 2026 business plan and dividend.
• Q1 2026 financial results to assess progress toward the VND 3,000 billion revenue and VND 300 billion profit targets.
• Further changes in major shareholder ownership, especially if Truong Thuan continues to reduce its stake.
• Implementation timeline for the proposed addition of 46 new business lines and removal of 32 others.
• Trading volume and price reaction in CEO stock following the AGM and publication of detailed post-meeting documents.