At the 2023 shareholders’ meeting held recently, President Ho Hung Anh predicted that Techcombank share (TCB) prices could increase by 5-10 times in the future. According to Anh, the most difficult period was over and the market would show Techcombank’s real value.

Anh said 2022 was a tough year in terms of real estate and corporate bonds, but Tecombank demonstrated good risk management in the two sectors.

However, despite the strong statements by the bank’s owner, TCB prices have fallen sharply in recent days. The prices decreased in seven out of the last 10 trading sessions. TCB prices dropped by 34 percent over the last year, from VND44,000 per share to VND29,000 on April 25. 

At the 2022 shareholders’ meeting, Nguyen Duc Tai, president of The Gioi Di Dong (Mobile World - MWG), spoke about how MWG share prices escalated after the day the company entered the bourse.

When MWG began listing shares in 2014, a female investor asked him what she should do with her idle capital. Tai replied that it would be better to spend VND1 billion to buy MWG shares, put the shares into a drawer and forget about them. 

“When your child turns 18 years old, he or she will have capital of VND100 billion from the investment you make today to start,” he said. 

MWG share prices have increased by 6-7 times since 2014. However, when the share price wil increase by 100 times remains an unanswered question.

At the 2023 shareholders’ meeting, the president of Coteccons (CTD), a construction JSC, recommended that shareholders should buy more CTD shares if the prices go down.

However, some shareholders questioned when they should buy them. In the last two quarters of 2022, CTD prices fell dramatically, from VND74,000 per share in mid-September 2022 to VND50,000 per share in October, and then further decreased to VND33,000 in mid-November. In March 2023, the price stood at below VND38,000 per share.

Coteccons has approved its 2023 business plan with profit expected to increase by 10 times compared with 2022 to VND233 billion.

At the 2017 shareholders’ meeting of Tan Tao Investment and Industry Corporation (ITA), Dang Thanh Tam appeared as the chair of the meeting instead of his sister Dang Thi Hoang Yen. Tam affirmed that the ITA share price would return to face value that year, but that didn’t happen. Now, ITA shares are still traded at below VND4,000 per share.

SSI president said at this year’s shareholders’ meeting that the capitalization value of the securities company would rise to $10 billion, if the stock market scale increased by three times. 

This means that the company would continue to expand in scale, and the share prices would increase in accordance with the market prices.

Some years ago, the statement about share prices by the then president of FLC Group Trinh Van Quyet caught the attention of investors. In late 2019, FLC committed to buy back Bamboo Airways shares after six months at double the price.

Prior to that, Quyet promised: “If in 2016, FLC share prices are still below the face value, I will mobilize all personal resources, or even mortgage all my assets to buy back FLC shares."

However, in March 2021, the share prices were still below face value. By the time FLC shares were forced to delist in February 2023, FLC share prices were trading at only VND3,500 per share.

As for ROS, Quyet committed not to sell ROS in 2019. However, in October 2019, he sold millions of ROS shares, leading to a sharp fall in the ownership ratio in FLC Faros.

In September 2021, the owner of Louis Capital Do Thanh Nhan made a strong statement about the bright prospects of the shares belonging to the ‘Louis family’. However, the prices of these shares dropped sharply.

Most of the shares of Louis and FLC families have been suspended or delisted.

Meanwhile, managers of many businesses don’t care much about share price fluctuations, instead, they focus on production and business activities, such as billionaire Tran Dinh Long (president of Hoa Phat) and Nguyen Duc Tai (MWG).

Luong Bang