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Wednesday, June 19, 2024

Dragon Capital raises stake in Mobile World

The Saigon Times

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HCMC – Fund management firm Dragon Capital has raised its stake in Mobile World Investment Corporation, whose MWG shares are traded on the southern exchange, through its acquisition of 940,000 MWG shares.

Saigon Investments Limited, a member of Dragon Capital, acquired 300,000 MWG shares on June 4, while Vietnam Enterprise Investments Limited bought 250,000 shares.

Two other members of Dragon Capital, namely DC Developing Markets Strategies Public Limited Company and Norges Bank, purchased 200,000 shares each. Meanwhile, KB Vietnam Focus Balanced Fund sold 10,000 shares.

Those transactions increased Dragon Capital’s ownership in the retail giant from 7.95% to 8.01% of the charter capital.

In related news, Nguyen Duc Tai, chairman of Mobile World, has registered to offload two million MWG shares, reducing his stake in the company from 2.42% to 2.29%.

The transaction is slated for June 7 to July 5 through either block deals or order-matching transactions.

Closing the trading session today, June 7, MWG inched up by 0.32% against yesterday’s session to VND62,100, with nearly 4.3 million shares changing hands.

The VN-Index of the Hochiminh Stock Exchange added 4.02 points, or 0.31%, against the day earlier at 1,287.58 points, with 235 advancers and 178 decliners.

There were more than 689 million shares worth VND17.8 trillion traded, plummeting by 21.84% in volume and 19.76% in value against the previous session. Block deal transactions contributed VND2.5 trillion to the overall value.

The VN30 basket saw 13 stocks advancing and 12 others declining. With the positive influence of major players like SAB, TCB and FPT, the group’s index added nearly six points.

SAB rose by 3.7% to VND67,900 per share, the highest since October 2023.

SHB took the lead by liquidity on the market with 17.17 million shares traded, closing down by 0.4% at VND11,800 per share.

On the northern bourse, the HNX-Index improved by 0.8 points, or 0.33%, day-on-day at 244.99 points. The total trading volume reached 75.87 million valued at a total of VND1.35 trillion.

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