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Monday, October 3, 2022

Dragon Capital becomes major shareholder of STB

The Saigon Times

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HCMC – Dragon Capital has raised its ownership in Saigon Thuong Tin Commercial Joint Stock Bank, or Sacombank (STB), to over 5%, according to the Hochiminh Stock Exchange (HoSE).

Vietnam Enterprise Investment Limited, a member of Dragon Capital, on March 8 bought 1.25 million STB shares, taking Dragon Capital’s ownership in the bank to 95.2 million shares, or a 5.05% stake, making it one of the local bank’s major shareholders.

Among the members of Dragon Capital, Norges Bank is holding the most STB shares, at some 18 million, followed by Amersham Industries Limited with 15.9 million shares and Vietnam Enterprise Investments Limited with 15.7 million shares.

On March 1, Dragon Capital also became a major shareholder of another bank, Military Commercial Joint Stock Bank (MB). Dragon Capital saw its 12 members raise their ownership in the bank to nearly 189 million, or a stake of more than 5%.

In 2021, Sacombank reported VND4.4 trillion in pre-tax profit, up 31.8% against 2020. As of December 31, 2021, the total assets of the bank had amounted to VND521.2 trillion, up 5.8% from the beginning of 2021.

STB today, March 11, advanced for the third straight session.

Closing the session, the VN-Index of HoSE dipped by 15.89 points, or 1.07%, against the session earlier, at 1,463.19. Losing stocks outnumbered winning ones by 342 to 113. Trade volume totaled nearly 878.2 million shares worth VND27.7 trillion, up 35% and 30.6% from the previous session, respectively.

In the VN30 basket, eight stocks gained ground, while 22 others fell into negative territory.

Facing the same trade gloom, the HNX-Index of the Hanoi Stock Exchange lost 5.44 points, or 1.22%, from the session earlier, at 442.2, dragged by the poor performance of many large caps.

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