Tuesday, October 20 2020

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Dragon Capital fund sells 5 million shares of Khang Điền House

Update: September, 17/2020 - 08:46

 

In the first half of this year, KDH recorded net revenue of VNĐ1.49 trillion, an increase of 19 per cent year-on-year. — Photo the courtesy of Khang ĐIền House

HÀ NỘI — Vietnam Enterprise Investments Limited Fund (VEIL), run by Dragon Capital, announced Wednesday it had sold 5 million shares of Khang Điền House Trading and Investment JSC (KDH) via a put-through method on September 11.

After the transaction, Dragon Capital's largest fund owns more than 9 million shares of KDH, equivalent to a rate of 1.62 per cent.

KDH sold the shares at a price of VNĐ23,850 per share, equivalent to a value of VNĐ119.25 billion (US$5.1 million).

The company is the sixth-largest investment in VEIL’s portfolio. In the first half of this year, KDH recorded net revenue of VNĐ1.49 trillion, an increase of 19 per cent year-on-year. Post-tax profit reached VNĐ408 billion, up by 90 per cent in the same period last year and 37 per cent of the yearly plan.

The company recently announced that it will establish three subsidiaries with a total charter capital of VNĐ220 billion.

The new units are Phú Hải Real Estate Development Company Limited, with VNĐ100 billion of capital, Nguyên Phát Real Estate Investment Company Limited, with VNĐ20 billion of capital and Nam Thông Real Estate Development Company Limited, with VNĐ100 billion of capital.

A group of investment funds run by Dragon Capital now holds a total of 89 million shares of KDH, equivalent to 15.93 per cent. With the current market price of VNĐ24,500 per share, the market value of the shares totals nearly VNĐ2.2 trillion. — VNS

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