Dragon Capital Vietfund Management was recently informed by securities firms that the authorities had requested them to provide transaction information of Eximbank's EIB shares, which were listed on the Hồ Chí Minh Stock Exchange (HoSE), in 2022. 

"A number of funds we manage or advise have traded during this time, and this is a completely normal investment activity. We know that other investors also traded this stock during that time period.

"We have not been directed by any authorities or the State Securities Commission (SSC) about this case, nor has there been any indication that we are under investigation. We will cooperate with the investigation upon request," a representative of Dragon Capital confirmed.

In the official dispatch that the Investigative Agency of the HCM City Police sent to a number of securities companies, it requested that they provide evidence and documents related to the case being investigated and verified according to the source of the denunciation on "stock market manipulation." The institutional investor referred to is Vietnam Enterprise Investment Limited (VEIL).

VEIL is a closed-end fund managed by Dragon Capital, established in 1995, and is currently the oldest fund operating in the Vietnamese market. VEIL's net asset value (NAV) is now more than US$1.7 billion. The London Stock Exchange presently trades VEIL fund certificates.

ACB Securities Company (ACBS) released a statement on the evening of February 10 in which it claimed to have learned that some forums and groups had posted photos and misrepresented claims that the ACBS had participated in certain EIB share transactions.

ACBS declared it had not participated in any transaction or violated the law related to the trading of EIB. During its operation, ACBS always complied with the regulations of the SSC and the competent state agencies.

"Providing false information about ACBS is regarded as fraud and harms the company's reputation and brand. People and organisations who give false information must be held accountable in court," according to the statement from ACBS.

In the market, EIB shares unexpectedly faced strong selling pressure in the February 10 session, especially in the ATC session. They then ended the session at the floor price of VNĐ22,950 per share, equivalent to a loss of 18 per cent from the beginning of the year. 

Since January, EIB shares have recorded several sessions where put-through volumes were many times higher than the matching transactions. — VNS