Investment fund movement in the week of September 6-12: Dragon Capital buys DXG shares before the closing date of the stock bonus

3 min read

Dragon Capital buys shares of Dat Xanh

Dragon Capital group bought more than 1.4 million of DXG shares of Dat Xanh (HoSE:DXG) on September 8. The transaction made the group’s total ownership increase to more than 88 million units, equivalent to 17% of capital.

Specifically, two member funds made transactions: CTBC Vietnam Equity Fund (1 million shares) and Hanoi Investments Holdings Limited (417,900 shares).

On September 8, DXG shares closed at the price of 22,000 VND/share. Temporarily calculated at this price, the fund paid more than 31 billion VND to increase the ownership rate in Dat Xanh in this period. Previously, on August 16, member fund Vietnam Enterprise Investments Limited sold 2 million shares of DXG, thereby reducing the group’s ownership to more than 86 million units (ratio 16.7%).

Dragon Capital acquired DXG before September 10 – the last registration date to exercise the right to receive more than 77.7 million bonus shares at the rate of 15%. With more than 88 million shares holding, Dragon Capital can receive an additional 13.2 million new DXG shares.

After issuing bonus shares in the third quarter of this year,  Dat Xanh is expected to issue 200 million individual shares, equivalent to 38.59% of outstanding shares. At the same time, the company also plans to offer 7 million ESOP shares at an expected price of 10,000 VND/share. These shares are subject to transfer restrictions for 2 years from the date of completion of the issuance. In case the employee quits his job before the end of the 2-year transfer restriction period, the transfer restriction period is 4 years.

Investment fund movement

VinaCapital sells PNJ

On August 31, Asia Value Investment Limited sold 297,400 shares of Phu Nhuan Jewelry (HoSE: PNJ) to restructure its investment portfolio. The transaction makes the total ownership of VinaCapital group to nearly 13.4 million units, equivalent to 5.89% of capital.

On the market, PNJ shares did not record put-through transactions on August 31. Thereby, Asia Value Investment Limited may have sold the above shares by order matching method. Temporarily calculated at the closing price of 86,000 VND/share, the fund collected about 25 billion VND.

After the transaction, Vietnam Investment Limited is still the member fund that owns the most PNJ shares with nearly 7.5 million units, equivalent to 3.28%. Next, Asia Value Investment Limited holds more than 4.46 million shares (1.96%) and VOF Investment Limited owns nearly 1.5 million shares (0.65%).

Regarding the business activities of PNJ, by the end of July, the unit has temporarily closed 274 stores across the system to strictly implement social distancing, equivalent to 81% of the total number of stores.

In July, PNJ recorded a 63% decrease in net revenue to VND 489 billion, a loss of VND 32 billion. Accumulated 7 months, net revenue reached 12,126 billion dong, up 34% over the same period and completing 58% of the plan; profit after tax increased 42% to 704 billion dong, equivalent to 57% of the whole year target.

PYN Elite continues to divest from Vietnam Japan Medical Equipment

PYN Elite Fund continued to sell more than 3.11 million shares of Vietnam-Japan Medical Equipment (HoSE: JVC) on September 1 by order matching method on the floor. With the closing price of 5,250 VND/share, the Finnish fund is estimated to have collected more than 16.3 billion VND.

Thus, from August 25 to September 1, PYN Elite Fund sold a total of 6.04 million JVC shares to reduce its holdings to 6.33 million units, thereby reducing the ownership ratio from 11 % down 5.63%.

The sale of foreign funds took place in the context of JVC’s recent strong increase in price. Specifically, after two months, the market price of this stock has increased by 60% to 5,470 dong/share at the end of September 10.

PYN Elite Fund has become a major shareholder of Viet Nhat Medical Equipment since the end of 2016 in the context of many foreign shareholders such as Dragon Capital, Vietnam Equity Holding … repeatedly divested after the incident of Chairman Le Van Xuan being prosecuted. At that time, JVC shares fell sharply from the price of VND22,000 per share to about VND3,000-4,000 per share.

In terms of business activities, the medical equipment supplier company has suffered a loss in the last 6 consecutive quarters, resulting in a cumulative loss of more than 1,092 billion dong as of June 30. With this result, JVC shares were changed from warning to control status and only traded in the afternoon session since July 6. However, the shares have been traded full-time again as controlled securities since July 14, after the enterprise sent a document to HoSE about the plan to remedy the business situation and the exception.

Source: ndh.vn – Translated by fintel.vn