Tuesday, September 29 2020

VietNamNews

Two Japanese shareholders to sell 25% stake in JVC

Update: August, 31/2020 - 17:09

 

Japanese shareholders want to sell shares in Việt Nhật Medical Equipment from August 27 to September 25. — Photo courtesy of the firm

HÀ NỘI — Japanese DI Asia Industrial Fund (DIAIF) announced it would sell all shares in Việt Nhật Medical Equipment from August 27 to September 25.

The 21.8 million shares, or 19.35 per cent, with the sticker JVC, were registered to the fund’s chairman Kyohei Hosono.

At the same time, Dream Incubator Inc or DI Inc, that is also related to Hosono, registered to sell nearly 6.6 million JVC shares, or a 5.85 per cent stake in the firm.

DIAIF is an investment fund established by two Japanese companies, Dream Incubator and Orix Corporation.

The total volume of JVC shares to be sold was 28.35 million shares or 25.2 per cent of the stake in the medical firm.

At the price of VNĐ4,600 per share, the Japanese shareholders could earn more than VNĐ113 billion (US$4.8 million) from the sale.

JVC was listed on the HCM City Stock Exchange in 2011 and used to be one of the best selling stocks for many investment funds. In 2015, each share peaked at more than VNĐ25,000.

However, founder and CEO Lê Văn Hướng was arrested on charges of fraud and lying to customers. The stock started to plunge. A series of major shareholders withdrew their capital from the company, including Dragon Capital, Vietnam Equity Holding, and Vietnam Medical Equipment Corporation.

Yesterday, the shares gained 6.8 per cent to reach VNĐ5,010 each on the market. — VNS

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