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Bao Viet Fund to sell furniture firm stake

Update: December, 04/2012 - 10:30

HCM CITY (VNS)— Bao Viet Securities Investment Fund has registered to sell nearly 3.42 million shares, equivalent to 8.68 per cent of its stake in the Truong Thanh Furniture Corp (TTF), from December 5 to January 3, 2013. The deal will be carried out by both order matching and negotiation methods.

Earlier in October, the fund registered to unload those shares but could not succeed because of lower-than-expected prices. From August to date, the fund has gradually decreased its holdings from 14.41 per cent to 8.68 per cent. During this time, TFF shares plunged 15 per cent from VND5,500 to VND3.700 a share. The shares are currently traded at VND4,500 a share.-VNS

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