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Saturday, June 15, 2024

Dragon Capital reduces stake in Hoa Sen Group

The Saigon Times

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HCMC – Fund management firm Dragon Capital has lowered its ownership in Hoa Sen Group, which is listed on the Hochiminh Stock Exchange (HOSE) under the stock code HSG, by selling two million HSG shares.

Vietnam Enterprise Investments Limited, an affiliated fund of Dragon Capital, offloaded two million HSC shares on March 15, cutting its ownership in Hoa Sen Group from 12.28% to 11.96%.

In related news, the standing vice board chairman of Hoa Sen Group, Tran Ngoc Chu, has registered to sell 1.5 million HSG shares from March 7 to April 5. After the transactions, his ownership in Hoa Sen Group would decline from 0.29% to 0.046% of charter capital.

From October 26 last year to March 20, 2024, HSG shares shot up by 34.6%, from VND16,600 to VND22,350 per share.

Closing the trading session today, March 21, HSG rose by 1.57% to VND22,450, with around 13.05 million shares changing hands.

On the southern bourse, the strong performance of many banking and real estate stocks, along with an increase in liquidity, propelled the VN-Index close to its recent high of around 1,280 points.

With gainers outnumbering decliners by 379 to 110, the VN-Index gained 16.34 points, or 1.3% against yesterday’s session, closing at 1,276.42 points.

There were more than 1.25 billion shares worth over VND29.6 trillion transacted on the bourse, surging by nearly 37% in volume and 29% in value compared to the previous session. Block deals contributed nearly VND2 trillion to the overall value, with more than 116.5 million shares transacted.

With a trading volume of 16.9 million shares, lender TCB stole the spotlight on the market as it soared by 6.62% to VND45,100, followed by HDB with an increase of 5.8% and VIB with a rise of 3%.

MMB took the lead by liquidity in the VN30 basket with more than 30.9 million shares transacted.

Stocks in the real estate sector also performed well, such as NVL rising by 3.32% and KHG increasing by 4.8%.

On the northern bourse, the HNX-Index increased by 3.12 points, or 1.31%, to 241.14 points, with 118 winners and 55 losers. The total trading volume exceeded 162.7 million shares worth VND3.5 trillion.

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