On October 6, Nguyen Hung Cuong, Chairman of the Board of Directors of DIC Corp (Tổng CTCP Đầu tư Phát triển Xây dựng, ticker DIG on HoSE), registered to buy 5 million DIG shares. If he buys the full amount, his stake rises from 3.41% to 4% of charter capital, or from about 28.77 million to 33.77 million shares.CafeF The trades are planned between October 12 and November 10, 2026, through order matching or negotiated deals.
The 5 million figure reads differently next to another one. From July 27 to July 30, brokerages force-sold 5,201,800 DIG shares from Cuong's own account.Tin nhanh chứng khoán The planned purchase is almost exactly what he lost in those four days. To see why, we need to go back to the start.
DIG is down more than 60% in a year
According to Báo Đầu tư Chứng khoán, from October 17, 2025 to the October 5, 2026 session, DIG fell 63.3%, from VND 24,600 to VND 9,020.Tin nhanh chứng khoán On October 6, DIG closed at VND 9,300, up 3.1%.
That decline is the root of everything that followed. When someone pledges shares as collateral for a loan, whether a margin loan or a pledge at a brokerage, the loan carries a safety ratio. As the share price falls, so does the collateral's value. Once the ratio drops below the required level, the brokerage asks the borrower to add cash or assets. If the borrower cannot top up in time, the brokerage may sell the shares on the market to recover the debt. That is a forced sale.
The mechanism does not care who the borrower is. A chairman and a retail investor are sold the same way. The shares then land on the very stock that is already falling, adding pressure on the price, and a lower price can trigger the next round of forced sales.
First half of the year: the chairman's family loses tens of millions of shares
According to Báo Đầu tư Chứng khoán, in the first half of 2026 Cuong's family had more than 36.85 million DIG shares force-sold in total.Tin nhanh chứng khoán With 844,192,763 shares outstanding, that is about 4.4% of DIC Corp's capital. This is stock that moved from the hands of a company executive's family to other investors on the exchange.
April: a promise at the shareholders' meeting
At the 2026 annual general meeting in April, shareholders asked directly about the forced sales of the chairman's and his family's shares. According to CafeF, Cuong answered that the forced sales were "entirely due to market volatility," and that his family "will certainly find every way to raise its ownership when conditions allow." He added: "we will buy back step by step and raise our ownership at a suitable time."CafeF
The wording deserves a close read. The promise has no number and no date. "When conditions allow" and "a suitable time" are both conditions judged by the person making the promise.
July: forced sales keep coming
After the meeting, DIG's price did not recover and the sales continued. According to CafeF, in July alone Cuong had shares force-sold in three windows: 2.69 million shares from July 7 to 9, another large batch from July 21 to 23, and 5.2 million shares from July 27 to 30.CafeF News outlets report different volumes for the July 21–23 batch, so this article uses no specific figure for it.
The late-July batch cut Cuong's stake from 4.06% to 3.41% of charter capital, well below the 5% threshold for being counted as a major shareholder.Tin nhanh chứng khoán
His relatives were not spared. His sister, Nguyen Thi Thanh Huyen, Vice Chairwoman of the DIC Corp board, had 1.65 million shares sold from July 27 to 29. His mother, Le Thi Ha Thanh, had 1.25 million shares sold from July 27 to 30. Together, the two had 2.9 million shares sold in the last days of July.CafeF
October 6: the real size of the registration
More than two months after the last forced sale, Cuong registered to buy 5 million shares. There are several ways to size it up.
Against the company's capital, 5 million shares is only about 0.59% of shares outstanding. At the October 6 close of VND 9,300, buying the full amount would cost Cuong about VND 46.5 billion.
Against what was lost, 5 million shares is less than one-seventh of the 36.85 million shares his family had sold in the first half of the year. Compared only with Cuong's own late-July batch, the registration nearly equals one round of selling. His sister's and mother's shares sit outside this transaction, because the registration is in Cuong's name only.
Against liquidity, DIG traded an average of about 3.4 million shares per session over the last 20 sessions, so 5 million shares is roughly a session and a half of normal trading. Spread evenly over the roughly 22 sessions from October 12 to November 10, that is only about 230,000 shares a day, a small fraction of daily liquidity.
On October 6, DIG traded 7.97 million shares, about 2.3 times the 20-session average. News of the registration was published at 2:53 p.m. on October 6, close to the closing bell.Tin nhanh chứng khoán The higher volume that day could come from the news spreading early through the exchange's disclosure channel, or from a technical rebound after the 2.5% drop on October 5. The available data cannot separate the two.
Registering is not buying
This is the point DIG holders most need to understand. An insider's trade registration signals intent; it is not a commitment to buy the full amount. Under the disclosure rules in Circular 96/2020/TT-BTC, an insider must report the result within 5 working days of completing the trade or of the registration period ending. If the full registered volume is not bought, the insider must explain why.
With a November 10 deadline, the results report would come by about November 17 at the latest, or earlier if Cuong finishes sooner. That report answers two questions: how much of the 5 million shares he actually bought and, if short, the stated reason; and where his stake ends up, a number that means something only if no further forced sales pull it down in the meantime.
Business backdrop: profit up, margins thinner
This purchase uses Cuong's personal money, not DIC Corp's. Still, the company's results are the backdrop for the share price he is buying at.
In Q2 2026, DIC Corp posted revenue of VND 613.25 billion, up 123.6% year on year, and net profit of VND 143.44 billion, up 174.8%. In the same quarter, gross margin fell from 39% to 6.9%.Tin nhanh chứng khoán Revenue rose sharply but the margin thinned a lot, so gross profit did not grow in step with revenue.
For the first half, pre-tax profit reached VND 145.9 billion, only 24.3% of the VND 600 billion full-year plan approved by shareholders.Tin nhanh chứng khoán In the second half, the company needs to earn about three times its first-half profit to reach the target.
What to watch
On the timeline, the October 6 registration is the first concrete action disclosed since the April promise. It is not yet a promise kept.
Two signals are worth tracking over the next five weeks. The first is Cuong's trading results report, due by about November 17 at the latest: if he buys all or nearly all of the 5 million shares, the "step by step" pledge has a first measurable step; if he buys little and cites a reason such as not having arranged the funds, the pledge stays on paper. The second is any new forced-sale notices for Cuong, Huyen or Thanh. The family's stake only stops shrinking when purchases exceed sales over the same period.