Nam Kim Steel (NKG) Insider Buys 5M Shares, Targets 66% Profit Growth

Overview

Ho Minh Phat, son of Nam Kim Steel Chairman Ho Minh Quang, has registered to purchase 5 million NKG shares, aiming to double his stake to 2.23% of the company’s capital. The insider filing aligns with NKG’s disclosure of aggressive 2026 financial targets and capital-raising plans, including a rights offering and employee stock program. This activity signals internal confidence amid a strategic reset following a 56.8% profit decline in 2025.

Key Facts

• Ho Minh Phat registered to buy 5 million NKG shares via negotiated and/or order-matching methods from April 17 to May 15, 2026.
• Upon completion, his stake would double to 10 million shares, representing 2.23% of Nam Kim Steel’s charter capital.
• Chairman Ho Minh Quang currently holds over 71 million NKG shares (15.87%).
• NKG targets 2026 revenue of VND 22,000 billion (+49% vs. 2025) and pre-tax profit of VND 400 billion (+66% vs. 2025).
• The company plans a rights offering of 125 million shares at VND 12,000/share (4:1 ratio) and an ESOP issuance of 6 million shares at VND 10,000/share.
• NKG appointed Nguyen Vinh An as General Manager and legal representative effective April 15, 2026, replacing Vo Hoang Vu, who became Standing Vice Chairman.
• The 2026 Annual General Meeting of Shareholders is scheduled for April 24, 2026, in Ho Chi Minh City.

What Happened

According to a filing with the Ho Chi Minh Stock Exchange (HoSE), Ho Minh Phat, son of Nam Kim Steel Chairman Ho Minh Quang, submitted a notification of an insider-related transaction. The document states his intent to purchase 5 million NKG shares for personal financial investment, with the transaction window set from April 17 to May 15, 2026. If executed, this would increase his holdings from 5 million to 10 million shares, raising his ownership to 2.23% of the company’s capital.

The filing was published alongside NKG’s disclosure of its 2026 business plan and leadership changes. The company reported 2025 revenue of over VND 14,800 billion and pre-tax profit of nearly VND 241 billion, declines of 28% and 56.8% year-on-year, respectively. For 2026, NKG projects a significant recovery, targeting VND 22,000 billion in revenue and VND 400 billion in pre-tax profit. The plan includes a rights offering to existing shareholders and an ESOP program, both slated for 2026-2027.

Market Context

NKG shares closed at VND 14,000 on April 10, 2026, down 1.04% on volume of 3.256 million shares traded on the HoSE. The stock has faced pressure amid the steel sector’s cyclical challenges and NKG’s sharp profit contraction in 2025. The insider purchase registration and ambitious 2026 targets arrive as the company seeks to reassure investors following management reshuffles, including the appointment of a new General Manager in mid-April 2026.

Strategic Significance

The insider buying and aggressive financial targets suggest management’s belief in a operational turnaround and capital structure optimization. NKG’s plan to raise capital via a rights offering at VND 12,000/share—below the recent trading price—could dilute existing shareholders but fund growth initiatives. The concurrent ESOP program aims to align employee incentives with the recovery thesis. For long-term investors, the key question is whether internal confidence and new leadership can execute on the projected 66% profit rebound amid volatile steel markets.

What to Watch

• Execution of Ho Minh Phat’s registered share purchase between April 17 and May 15, 2026.
• NKG’s Q1 2026 earnings release to assess early progress toward the VND 400 billion pre-tax profit target.
• Shareholder approval of the VND 12,000/share rights offering and VND 10,000/share ESOP issuance at the April 24, 2026 AGM.
• Quarterly steel production volumes against the 2026 target of 1.1 million tons.
• Updates on the management transition under new General Manager Nguyen Vinh An.