Khang Dien Founder's Son to Buy 20 Million Shares Amidst Price Drop

Lý Tuấn Kiệt, the son of the founder of major Vietnamese real estate developer Khang Dien (KDH), has announced plans to purchase 20 million shares of the company. This transaction aims to increase his ownership stake to approximately 1.84% of the company's charter capital. Kiệt intends to acquire a significant number of shares while the stock is trading at its lowest point since the end of 2022. KDH's share price has fallen by nearly 20% since the beginning of the month and 43% since the start of the year, currently standing at 17,800 VND per share. Based on the recent closing price, the transaction is estimated to cost around 356 billion VND (approximately $14.5 million USD). Kiệt, 29, is the son of Lý Điền Sơn, founder and Vice Chairman of Khang Dien. He is introduced on the company's website as having seven years of experience in corporate governance, finance, and organizational management. He was recently appointed as Deputy General Director of the company in late March 2026. Khang Dien, established in 2001, primarily focuses on real estate development, with a strong concentration in Ho Chi Minh City. The company has set a target of 4,200 billion VND in revenue and 1,500 billion VND in after-tax profit for the current year. A key growth driver is a joint venture project with Keppel on an 11.8-hectare site on Võ Chí Công Street in Ho Chi Minh City, in which Khang Dien holds a 51% stake. The company expects to complete sales and recognize profits from low-rise products this year. Additionally, Khang Dien anticipates generating further profits from investment cooperation, joint ventures, and affiliations to implement projects in various districts of Ho Chi Minh City, including Bình Trưng, Cát Lái, Bình Hưng, and Bình Lợi. Earlier this year, Khang Dien stated it was simultaneously developing four projects on a total land bank of 150 hectares. These projects are set to offer the market approximately 6,000 high-rise apartments, 1,000 low-rise townhouses and villas, and 60 hectares of industrial land. In the first quarter of the year, the company recorded revenue of just over 280 billion VND, about one-third of the same period last year. However, its after-tax profit nearly tripled to 327 billion VND, largely due to a financial transaction. Source: VnExpress