HCMC – Three foreign investment funds have reduced their holdings in Asia Commercial Joint Stock Bank (HOSE: ACB), the lender said, as foreign investors have kept selling the bank’s shares in recent weeks.
As of May 18, three foreign funds, namely Smallcap World Fund, Inc., Boardwalk South Limited, and VOF PE Holding 5 Limited, had all reduced their share holdings in the local private bank.
Compared with the latest ownership update disclosed by ACB in July 2024, Smallcap World Fund, Inc. cut its stake from more than 112 million shares, equivalent to 2.51%, to 76.7 million shares, or 1.494%.
Boardwalk South Limited reduced its stake from more than 82.2 million shares to over 43 million shares, or 0.839%, officially falling below the threshold for shareholders owning more than 1% of the bank’s charter capital.
Meanwhile, VOF PE Holding 5 Limited, a fund under VinaCapital, fully divested its stake of more than 76.6 million ACB shares.
In total, the three foreign shareholders sold more than 150 million ACB shares over the period. The divestments came as ACB shares had faced persistent foreign net selling in recent trading sessions.
Since early April, foreign investors have net sold more than 111 million ACB shares. In contrast, in a separate development, Au Lac Group raised its ownership stake in ACB to 6% in early May, equivalent to around 308 million shares.
Closing the trading session today, May 26, ACB rose by 5.31% day-on-day to VND24,800, with around 58.8 million shares transacted on the market, marking its most vibrant trading session in more than a year.
On the southern bourse, the VN-Index edged down 1.85 points, or 0.1% against yesterday’s session, to 1,884.18 points, with 199 gainers and 116 losers.
More than 729.7 million shares worth VND19.74 trillion were transacted, up around 4% in both volume and value compared with the previous session. Put-through transactions accounted for nearly 131 million shares valued at VND4.5 trillion.
VHM and VIC weighed heavily on the market, jointly shaving more than 13 points off the VN-Index. VHM fell 3.1% to VND153,800 per share, while VIC declined 2.7% to VND213,000.
At the close, the HNX saw 71 advancers and 61 decliners, with the HNX-Index rising 6.35 points, or 2.34%, to 278.15 points. Total matched trading volume reached more than 84.2 million shares worth VND1.43 trillion.
