The transaction was executed via agreement on 30/1, as LPBS is not yet listed on the stock market. Nguyen Duc Thuy did not hold shares in the company before this deal, but now owns 11.93%.

One day prior, his son, Nguyen Xuan Thai, also acquired over 83 million LPBS shares, raising his ownership from 6.58% to 15%. The total combined holding of Nguyen Duc Thuy and his son in LPBank Securities stands at 26.93%.

According to financial data released by LPBS, as of the end of last year, the company had five major shareholders, all holding less than 11%. Loc Phat Vietnam Bank (LPBank) was the sole institutional shareholder, with a 5.5% stake.

Nguyen Duc Thuy and his son. Photo: *Phuong Dong*

Nguyen Duc Thuy, often referred to as "Bau Thuy", previously served as Chairman of the Board of Directors at LPBank. He resigned in late December 2025 and became the acting General Director of Sacombank. Nguyen Duc Thuy reduced his capital, and is no longer among the shareholders holding more than 1% of LPBank's shares.

However, Nguyen Duc Thuy and his family have consistently increased their presence in a company associated with LPBank. In addition to boosting their ownership, his son was recently nominated to the LPBS Board of Directors for the 2023-2028 term.

LPBS, formerly Viettraninmex Securities Company, was established in 2009. The company changed to its current name in September 2023 and currently has a charter capital of 12,688 billion VND.

Newly released financial reports show that cumulative revenue last year was approximately 1,690 billion VND, marking a nine-fold increase compared to the same period. Proprietary trading contributed over half of the total revenue. After-tax profit reached 522 billion VND, significantly exceeding the 80 billion VND recorded the previous year.

LPBS is seeking shareholder approval for its plan to launch an initial public offering (IPO) this year. The company intends to issue over 126.8 million shares, representing 10% of its outstanding shares. If successful, the charter capital will increase to 13,935 billion VND, and the company plans to list on the Ho Chi Minh City (TP HCM) stock exchange.

Phuong Dong