Dragon Capital's member fund group has announced that it has purchased 2 million shares of Vietnam Electrical Equipment Joint Stock Corporation (Gelex or GEX).

After the transaction, the ownership ratio of the whole group increased from 4.86 per cent to approximately 5.1 per cent, thereby becoming a major shareholder of GELEX.

Of them, Amersham Industries Limited bought 1.23 million shares, Balestrand Limited bought 28,000 shares; Norges Bank bought 170,000 shares and Ware Group Limited bought 200,000 shares.

On the market, temporarily calculated at the market price of VND20,600 per share, this group of foreign funds spent more than VND41 billion (US$1.7 million) on the above deals.

Previously, on June 9, this group of funds sold 3.72 million GEX shares - of which, Amersham Industries Limited sold 1.5 million shares, Grinling Internatioal Limited sold 1 million and Norges Bank sold 1.22 million shares.

Regarding business results in the first quarter of 2023, GELEX recorded net revenue of VND6.41 trillion; profit after tax reached VND34 billion.

In 2023, GEX targets to earn total consolidated revenue of VND37.46 trillion; consolidated pre-tax profit of VND1.27 trillion; 15 per cent dividend payment.

Gelex Group will continue to invest in industrial production and implement many key projects, especially industrial and industrial real estate.

The business will promote cooperation with global corporations to expand markets and products in the value chain of core business areas. — VNS