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Dragon Capital becomes major shareholder of Vinh Hoan

The Saigon Times

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HCMC – Dragon Capital has raised its ownership in Vinh Hoan Corporation, a listed company, to 5.06% from 4.9%.

Norges Bank, a member of Dragon Capital, on October 11 bought 150,000 VHC shares, while two other members, CTBC Vietnam Equity Fund and Samsung Vietnam Securities Master Investment Trust, acquired 100,000 VHC shares and 50,000 shares on the same day, respectively.

The share acquisition made Dragon Capital a major shareholder of Vinh Hoan, whose shares are traded on the Hochiminh Stock Exchange under the code VHC.

In the second quarter of this year, Vinh Hoan booked over VND4.2 trillion in revenue, up 80.4% year-on-year, and VND788 billion in after-tax profit, up 203% against the year-ago period.

This year, the local company targets VND13 trillion in revenue, up 43.6% versus the year earlier, and VND1.6 trillion in after-tax profit, up 45.6%.

VHC closed down in the session today, October 14, ending its three-session winning streak.

Strong cash flow and upbeat investor sentiment led the VN-Index of the HCMC exchange to advance 10.86 points, or 1.03%, from the session earlier, at 1,061.85, with 336 gainers and 102 losers. This was the third rising session of the index.

Nearly 641.3 million shares worth VND14.5 trillion changed hands, up 34% in volume and 62.6% in value, against the previous session.

Many stocks in the VN30 basket made strong gains, with lender ACB and mobile phone retailer MWG expanding over 4%.

The securities stock VND jumped 4.3% and was the most actively traded stock on bourse with a matching volume of over 26 million shares.

On the Hanoi Stock Exchange, the HNX-Index gained 3.15 points, or 1.4%, from the session earlier, at 227.89, supported by bluechips.

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