Dragon Capital-linked funds raise holding in retailer Mobile World to 6.25%
Six funds related to Dragon Capital, one of major fund management companies in Vietnam, have bought in a combined 4.66 million shares of leading Vietnamese retailer Mobile World Investment Corporation.
The funds raised their holdings to a combined 91.41 million shares, or 6.2516% of Mobile World's charter capital, from 5.9330%, according to a filing with the Ho Chi Minh Stock Exchange (HoSE) on Thursday.
Amersham Industries Limited, DC Developing Markets Strategies Public Limited Company, Hanoi Investments Holdings Limited, Norges Bank, Samsung Vietnam Securities Master Investment Trust (Equity), and Vietnam Enterprise Investments Limited each bought between 120,000 and 1.2 million shares of Mobile World Investment Corporation (HoSE: MWG).
The transactions were made on April 23, with MWG shares closing at VND49,800 ($1.96) apiece. At that price, the funds were estimated to have spent VND232 billion ($9.15 million) on the additional shares.
A Mobile World store. Photo courtesy of VietnamBiz.
Prices of MWG shares have increased 22% in the past three months, closing at VND54,900 ($2.17) each on Friday. Its price peaked at VND57,500 last September.
For 2024, MWG targets to earn an after-tax profit of VND2.4 trillion ($94.7 million) on revenue of VND125 trillion, up 13.2-fold and 6% year-on-year, respectively.
MWG unloaded a 5% stake in its grocery chain Bach Hoa Xanh earlier this month to Green Bee 2 Private Limited under China’s CDH Investments.
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