Updated  
August, 19 2014 08:09:00

Foreign funds reap gains of buying domestic stocks

PVD enjoyed a profit of VND1.3 trillion ($61.3 million) in the first six months this year, increasing 150 per cent compared to the same period last year. — Photo VNA

HA NOI (VNS) — Three foreign funds bought 17.85 million shares of PetroVietnam Drilling Services (PVD) in July last year and have since reported profits of VND1.2 trillion (US$56.6 million).

The funds, including Mutual Fund Elite, Private Equity New Markets II and VinaCapital Viet Nam Opportunity Fund, purchased at the issue rate of just VND45,600 ($2.1) per share. PVD has since climbed to VND100,000 ($4.7).

Specifically, Mutual Fund Elite earned VND655 billion ($30.9 million), Private Equity New Markets II held VND318 billion ($15 million) and Private Equity held VND196 billion ($9.2 million). In addition, these funds received dividends at 10 per cent.

PVD enjoyed a profit of VND1.3 trillion ($61.3 million) in the first six months this year, increasing 150 per cent compared to the same period last year. Foreign ownership in the company is currently over 40 per cent. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Singaporeans unite to help scammed Vietnamese tourist Singaporeans unite to help scammed Vietnamese tourist

The assistance that Singaporeans gave a Vietnamese tourist who was scammed when he bought an iPhone 6 in Singapore has earned much attention and applause from Vietnamese newspapers and netizens.

Old apartments remain in state of disrepair Old apartments remain in state of disrepair

There are more than 1,500 old apartment buildings at risk of collapse across Viet Nam, but in the last decade, only five per cent were rebuilt.

Province backs cable car to cave 1    Province backs cable car to cave

Authorities in central Quang Binh Province have given the go ahead for a highly controversial cable car system connecting various sites in the Phong Nha-Ke Bang National Park to the world's biggest cave, Son Doong.

Edward Scissorhands among free outdoor films Edward Scissorhands among free outdoor films

Saigon Outcast will hold two free Thursday outdoor film screenings this month.

Tax not the solution to online gaming issue 1    Tax not the solution to online gaming issue

A 10 per cent tax on the online gaming industry recently proposed by the Ministry of Finance aims to address the connection between the increase in gaming addiction and game-related crimes among youngsters by charging them more to fuel their addiction.