Dragon Capital no longer major shareholder at local seafood firm

Monday, Dec 21, 2020 16:31

Employees at work in a facility of Vinh Hoan Corporation. — Photo cafef.vn

Dragon Capital is no longer a major shareholder at aquaculture firm Vinh Hoan Corp after its member funds completed offloading their shares.

The fund’s two members KB Vietnam Focus Balanced and Hanoi Investments Holdings Ltd sold 580,000 shares on December 17.

After the deal, Dragon Capital cut its stake at Vinh Hoan Corp to 4.9 per cent of charter capital from the previous 5.21 per cent.

With a stake of below 5 per cent, Dragon Capital is not a major shareholder anymore.

The Vietnamese aquaculture company, listed on the Ho Chi Minh Stock Exchange with code VHC, has seen its market value fall 10.7 per cent in the last four trading days.

VHC lost 2.7 per cent to end Monday at VND41,300 apiece.

Dragon Capital has recently lowered its ownership in local companies. In November-end, its member fund Amersham Industries Ltd sold 1 million Military Bank shares (MBB) to curb the stake to 4.97 per cent.

Dragon Capital has also transferred 8 million shares at FPT Retail (HoSE: FRT) and cut its stake to 3.1 per cent.

Other companies in which Dragon Capital has sold its shares are Khang Dien House Trading and Investment JSC (HoSE: KDH), Dat Xanh Group (HoSE: DXG) and Development Investment Construction JSC (HoSE: DIG).

On the opposite side, the fund has bought shares of the steel producer Hoa Phat Group (HoSE: HPG). — VNS

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