Dragon Capital starts to disburse
In less than a month, Dragon Capital has reinstated its position as a significant shareholder in PV Drilling.
In less than a month, Dragon Capital has reinstated its position as a significant shareholder in PV Drilling while also increasing its investments in Phú Nhuận Jewellery (PNJ) and FPT Digital Retail (FRT).
Hanoi Investments Holdings Limited, a fund member under Dragon Capital, recently disclosed the acquisition of over 1.1 million PNJ shares on October 2.
Post-transaction, Dragon Capital's ownership in Phú Nhuận Jewellery has risen to 6.2 per cent of the total capital. Approximated at the closing price on October 2, the transaction is valued at around VNĐ109 billion (US$4.4 million).
The fund’s decision to boost its ownership stake comes at a pivotal moment for Phú Nhuận Jewellery as it enters the bustling Winter-Spring season - a popular time for weddings, driving up the demand for jewellery.
Additionally, a dynamic gold market is expected to fuel business growth for the company in the latter half of this year.
Regarding the retail jewellery sector, Phú Nhuận Jewellery's main business segment, Việt Dragon Securities (VDSC) projects a potential 10.5 per cent annual growth from 2024 to 2028, contingent upon the company securing input materials amidst a deepening shortage of gold supply.
Previously, another member fund of Dragon Capital reported a net acquisition of 105,000 FRT shares, elevating their holdings to 17.6 million shares, constituting 13.03 per cent of the company's capital.
Dragon Capital now ranks as the second largest shareholder in FPT Digital Retail, trailing only FPT Group, with an ownership stake exceeding 46.5 per cent of the company's capital.
In the first half of the year, FPT Digital Retail saw a robust 22.5 per cent surge in gross revenue compared to the same period last year to over VNĐ18.2 trillion. Its profits after tax soared to VNĐ109 billion after recording a previous year's loss of nearly VNĐ213 billion.
Notably, the FPT Long Châu pharmacy chain experienced an impressive 67 per cent revenue growth in the first half of 2023, hitting more than VNĐ11.5 trillion and contributing 63 per cent to the overall revenue of the parent company.
According to VDSC, forthcoming vaccine consumption per capita is expected to surge, driven primarily by increasing disposable incomes and sustained public health consciousness and disease prevention efforts.
The Long Châu vaccination chain, a part of FPT Long Châu, currently stands out as the fastest-growing vaccination network. VDSC expects revenue for this chain in 2024 to reach around VNĐ1.4 trillion, capturing a market share of around 6 per cent.
Dragon Capital, a foreign fund group, has diversified its investments by acquiring oil and gas stocks in addition to retail.
Two Dragon Capital member funds, Samsung Vietnam Securities Master Investment Trust and Vietnam Enterprise Investments Limited, purchased 50,000 and 1,200,000 shares of PV Drilling (PVD), respectively, on September 30, increasing Dragon Capital's ownership to 5.22 per cent.
Earlier in September, another Dragon Capital member, DC Developing Markets Strategies Public Limited Company, sold 500,000 PVD shares, reducing Dragon Capital's total ownership to 4.92 per cent in PVD Drilling.
Within a month, Dragon Capital reemerged as a major shareholder in PV Drilling with a 5.22 per cent ownership stake. — VNS
