Dragon Capital-linked team no longer major shareholder of industrial park developer KBC
A group of funds affiliated with Dragon Capital, among the biggest foreign-run fund managers in Vietnam, has cut their holding in Kinh Bac City Development Holding Corporation (HoSE: KBC) to below 5%, no longer being a major shareholder in the latter.
Kinh Bac City Development Holding Corporation’s headquarters in Bac Ninh province, northern Vietnam. Photo courtesy of the company.
The group unloaded 300,000 KBC shares on Wednesday, October 9 to reduce their combined ownership to 4.999%, or 38.37 million shares, from the earlier 5.04%, Dragon Capital said in a filing to the Ho Chi Minh Stock Exchange.
Of the amount, Amersham Industries Limited sold 200,000 KBC shares and Norges Bank 100,000 shares.
On May 28, the group had bought 100,000 KBC shares to lift their holding beyond 5% and became a major shareholder of KBC, among the leading industrial park developers in the country.
In another development, KBC chairman Dang Thanh Tam did not transfer 86.55 million KBC shares between September 9 and October 8 as registered, retaining his holding in the company at 18.06%.
Papers had yet to be completed with relevant authorities to transfer that share amount to Ho Chi Minh City-based DTT Investment and Development Joint Stock Company, where Tam owns a 90.4% stake and is its director, Tam explained.
In the first half of this year, KBC earned a net profit of VND191.21 billion ($7.7 million) on revenue of VND1,044 billion, down 90.8% and 77.1% year-on-year, respectively.
For 2024, the company aims to make a net profit of VND4 trillion ($161.13 million) on revenue of VND9 trillion, up 80% and 47% from 2023, respectively.
KBC is one of the leading industrial park developers in Vietnam. KBC shares closed up 0.36% at VND27,950 ($1.13) apiece on Friday.
- Related News
- Read More
Vietnam, Japan agree to target $5 bln annual investment, $60 bln trade by 2030
Prime Ministers Le Minh Hung of Vietnam and Takaichi Sanae of Japan have signed six bilateral co-operation documents following summit talks at the Government headquarters.
Economy - Sat, May 2, 2026 | 4:01 pm GMT+7
Vietnam's top dairy producer Vinamilk posts Q1 profit of nearly $93 mln
Vinamilk (HoSE: VNM) reported a net profit of nearly VND2.46 trillion ($93.26 million) in the first quarter of 2026, up 55% from the same period last year, as the dairy producer met about a quarter of its full-year target after three months.
Companies - Sat, May 2, 2026 | 3:26 pm GMT+7
Vietnamese PM hosts welcome ceremony for Japanese counterpart
Prime Minister Le Minh Hung on Saturday morning hosted an official welcome ceremony for Japanese Prime Minister Takaichi Sanae, who is on a three-day official visit to Vietnam.
Politics - Sat, May 2, 2026 | 12:37 pm GMT+7
PV Oil completes 81% of full-year profit target in Q1
PV Oil, a subsidiary of state-owned Petrovietnam, reported a sharp surge in first-quarter earnings, achieving 81% of its full-year profit target within the first three months of 2026, driven largely by favorable inventory dynamics.
Companies - Sat, May 2, 2026 | 8:17 am GMT+7
Major players eye Vietnam’s wastewater treatment market
Vietnam’s wastewater treatment sector is entering a transition phase as a growing number of large corporations signal plans to enter or expand investments, driven by rising environmental infrastructure demand and expectations of clearer wastewater pricing mechanisms.
Companies - Sat, May 2, 2026 | 8:00 am GMT+7
Work on $92 mln eco-urban resort project starts in northern Vietnam tourist hotspot
A consortium of Hong Phong ID Co. Ltd. and Ecopark Hai Duong JSC has broken ground on a VND2.42 trillion ($91.97 million) eco-urban tourism project in Vietnam's northern border province of Lao Cai.
Real Estate - Fri, May 1, 2026 | 9:08 pm GMT+7
Royal Shore Beachclub announces grand opening in Hoi An
Royal Capital Group on Thursday announced the grand opening of its newest beachfront destination, set along the pristine coastline of Hoi An.
Travel - Fri, May 1, 2026 | 6:48 pm GMT+7
Novaland posts Q1 profit of $33 mln, shares hit three-year high
Novaland (HoSE: NVL) reported a strong turnaround in the first quarter of 2026, swinging to a net profit of VND860 billion ($32.63 million) from a loss a year earlier, as revenue doubled on increased property handovers.
Companies - Fri, May 1, 2026 | 3:09 pm GMT+7
Vinaconex, Vietjet have new CEOs
Vietnamese construction heavyweight Vinaconex on Wednesday appointed deputy CEO Pham Thai Duong as CEO and legal representative, replacing Nguyen Xuan Dong.
Companies - Fri, May 1, 2026 | 2:41 pm GMT+7
Japanese retailer Aeon Mall to build another shopping center in northern Vietnam
Japan’s Aeon Mall is set to invest nearly $150 million in a shopping mall project in the northern province of Bac Ninh, marking a further push into Vietnam’s fast-growing industrial localities.
Industries - Fri, May 1, 2026 | 10:59 am GMT+7
Hyosung Vina raises $7.6 mln in unsecured bond sale
Hyosung Vina Chemicals, the Vietnam arm of South Korean chaebol Hyosung, has completed a VND200 billion ($7.59 million) domestic bond issuance, according to disclosures on the Hanoi Stock Exchange.
Companies - Fri, May 1, 2026 | 10:16 am GMT+7
Vietnam central bank to add new metrics to oversee banking activity
The State Bank of Vietnam is proposing a set of new prudential metrics to strengthen oversight of banking operations, replacing the traditional loan-to-deposit ratio (LDR) with a broader framework aligned with Basel III standards.
Banking - Fri, May 1, 2026 | 8:00 am GMT+7
From national reunification to aspiration for an integrated development space
In 1975, Vietnam united the country through determination and a shared aspiration for independence. Today, in a very different context, the country faces a new challenge: unifying its market through institutional reform, writes Dr. Nguyen Sy Dung, former deputy head of the Office of the National Assembly - the country's legislature.
Economy - Thu, April 30, 2026 | 10:27 pm GMT+7
Vietjet seeks deeper engagement in Vietnam's aviation infrastructure development
Vietjet, Vietnam’s first private airline, has proposed earlier and broader participation in Vietnam’s airport planning and infrastructure development, as the budget carrier looks to expand its role beyond flight operations into ground services and logistics.
Companies - Thu, April 30, 2026 | 9:42 pm GMT+7
Vietnamese giants kick off 4 mega projects in HCMC
The Ho Chi Minh City People’s Committee on Wednesday held a groundbreaking ceremony for four large-scale projects invested by Vietnamese conglomerates including Vingroup, Sun Group and Truong Hai Group (Thaco).
Economy - Thu, April 30, 2026 | 8:01 pm GMT+7
Vingroup starts work on $2.2 bln int'l university township in southern Vietnam
Vietnam’s conglomerate Vingroup (HoSE: VIC) on Wednesday broke ground on a VND59 trillion ($2.24 billion) international university township in Ho Chi Minh City.
Real Estate - Thu, April 30, 2026 | 12:38 pm GMT+7
