VEIL, a subsidiary of Dragon Capital, sold 200,000 shares of MBB. The number of shares held by VEIL has now reduced to 26.1 million units, equivalent to 1.437 percent.
As a result, the total shares of eight investment funds managed by Dragon Capital are approximately 108.92 million units. The group’s ownership rate fell from 6.01 percent to 5.99 percent after the aforementioned transaction.
VEIL said it sold the shares on May 30.
Similarly to many stocks in the same sector, MBB has been in the downtrend since the middle of April. The stock price fell 17.4 percent from the peak set on April 10 (36,900 dong/share). Since Dragon Capital sold its shares, MBB has recovered and increased from 27,550 dong to 30,300 dong now.
Apart from MBB, funds managed by Dragon Capital also sold 5.5 million shares of Vinamilk under put-through method, earning 902 billion dong on May 23. The aforementioned VNM shares were transferred to Jardine Matheson, a major shareholder of Vinamilk, who is also investing boldly in many Vietnam’s F & B businesses.
In the opposite direction, Dragon Capital is one of four key investors to buy TCB shares in the last offering in April. It is unclear how many shares were purchased by this foreign organisation. However, the decline of TCB after the first listing date on June 4 is affecting the value of the fund’s investment.
