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Wednesday, June 19, 2024

Dragon Capital becomes major shareholder of Vinaconex

The Saigon Times

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HCMC – Dragon Capital’s affiliated fund, Vietnam Enterprise Investments Limited, has bought an additional 1.3 million VCG shares of Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex), sending its ownership rising from 4.82% to 5.07%.

The share acquisition makes Dragon Capital a major shareholder of Vinaconex.

Meanwhile, Pacific Holdings Investment Group JSC reduced its stake in Vinaconex from 52.44% to 45.14%. This divestment took place from August 9 to August 31 following a similar reduction earlier this year when their ownership decreased from 62.9% to 52.44% of Vinaconex’s charter capital.

Vinaconex posted total revenue of VND8.9 trillion in the first nine months of 2023, up an impressive 33.1% over the same period last year. However, its after-tax profit plunged by 78.9% year-on-year to VND204.7 billion.

This year, Vinaconex looks to obtain VND16.3 trillion in consolidated revenue, up a staggering 70% versus 2022, and VND860 billion in after-tax profit, down by 8% year-on-year.

By the end of the third quarter of 2023, the company had achieved only 23.8% of its annual profit target.

Closing the trading session today, November 8, VCG soared to its upper daily limit of VND22,850 per share, with a matching volume of more than 10.3 million shares.

Winners outnumbered losers by 495 to 57 on the Hochiminh Stock Exchange. The VN-Index surged 33.14 points, or 3.07%, to 1,113.43 points, with 952.6 million shares worth VND18.6 trillion changing hands.

The figures represented a 50% surge in volume and a 47.6% increase in value over the previous session. Nearly 66.4 million shares were transacted through block deals, contributing VND1.3 trillion to the overall value.

Securities stock VIX stole the limelight as it shot up to its daily upper limit of VND14,600 and posted the highest trading volume, with a matching volume of nearly 46.8 million shares.

With 154 advancers and 43 decliners, the HNX-Index of the Hanoi Stock Exchange added 8.74 points, up by 4% versus the session earlier, to reach 227.03 points. There were 124.6 million shares valued at VND2.3 trillion changing hands on the northern bourse.

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