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Sunday, December 4, 2022

Dragon Capital holds higher stake in FPT Retail

The Saigon Times

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HCMC – Dragon Capital has increased its ownership in FPT Digital Retail Joint Stock Company from 4.98% to 5.23%.

CTBC Vietnam Equity Fund, a member of Dragon Capital, on November 9 purchased 300,000 FRT shares. The share acquisition made Dragon Capital a large shareholder of FPT Retail, a retailing business arm of Vietnamese tech giant FPT.

FPT Retail now trades its  FRT shares on the Hochiminh Stock Exchange.

In related news, FPT Retail plans to contribute an additional VND225 billion to its pharmaceutical subsidiary FPT Long Chau Pharma Joint Stock Company. Once the deal is done, FPT Retail will raise its ownership in FPT Pharma to 89.83% from 85.07% and the latter’s charter capital will inch up to VND450 billion.

In the year to September, FPT Retail had seen its consolidated revenue up 55% year-on-year to reach over VND21.7 trillion, meeting 80% of its 2022 full-year target. Its pre-tax profit rose 2.6 fold against the 2021 figure at VND6,562 billion.

As of September, the retailer had 745 FPT Shop facilities, up 98 units compared to early this year. By September 30, Long Chau was running 800 pharmacies nationwide, an increase of 400 units against early this year.

Closing the session today, November 14, FRT plunged 6.96% over the previous session at VND64,200.

On the southern bourse, the benchmark VN-Index shed 13.49 points, or 1.41%, against last Friday at 941.04, with decliners outnumbering advancers by 370 to 86.

Turnover of the HCMC market contracted over 9.5% in volume and around 14% in value versus the previous session at close to 736.5 million shares and more than VND10.9 trillion, including some VND1.3 trillion worth of shares traded in block deals.

Many bluechips in the VN30 basket reversed course to close higher, such as brewery firm SAB being the biggest winner that gained 3.8%, consumer goods producer MSN edging up 3%, in addition to other gainers STB, CTG, VIC, and SSI.

The HNX-Index on the northern bourse closed down. With only 36 winners and 170 losers, the index lost 6.36 points, or 3.35% over the session earlier at 183.45.

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