Many institutions divest from housing major Khang Dien
Hanwha Life Insurance Company Limited, VOF Investment Limited, Kiwoom Vietnam Tomorrow Securities Master Fund (Equity), Delta Global Financial Holdings Private Limited have sold all KDH shares of Khang Dien House Trading and Investment JSC.
Khang Dien House Trading and Investment JSC, listed on the Ho Chi Minh Stock Exchange (HoSE) as KDH, is a major real estate investment and trading and management company in Ho Chi Minh City.

Khang Dien's The Venica project in District 9, HCMC. Photo courtesy of the company.
Hanwha Life Insurance Company Limited (Vietnam) and the above funds are related to Nguyen Thi Dieu Phuong, an independent board member, and Vuong Hoang Thao Linh, a member of the supervisory board at Khang Dien.
Accordingly, Hanwha Life Insurance Company Limited (Vietnam) sold 16,830 KDH shares to reduce its ownership to 0% on February 6, 2023.
From December 12, 2022 to January 10, 2023, VOF Investment Limited sold 4.11 million out of the total 10 million KDH shares registered to sell. Accordingly, this fund reduced its ownership in Khang Dien from 1.41% to 0.83% of charter capital. The reason for not selling all registered shares is market movements remain inappropriate.
Later, the fund registered to sell all 5.89 million KDH shares to reduce its ownership from 0.83% to 0% of charter capital. The transaction is expected to take place from January 17 to February 15, 2023.
Previously, Kiwoom Vietnam Tomorrow Securities Master Fund (Equity) sold all 126,693 KDH shares to reduce its ownership to 0%. The transaction was made from December 15 to December 23.
The Delta Global Financial Holdings Private Limited fund sold all 110,000 KDH shares to reduce its ownership to 0% from December 15 to December 23.
In the fourth quarter of 2022, KDH recorded net revenue of more than VND1,234 billion ($52.32 million), up 109.2% year-on-year, and after-tax profit of VND110.7 billion ($4.69 million), down 73.3%. Gross profit margin dropped sharply from 82.2% to only 24.2%.
In 2022, Khang Dien reported net revenue of VND2,912 billion ($123.46 million), down more than 22% year-on-year, and after-tax profit was VND1,081 billion ($45.85 million), down 10.2%.
At the closing morning session on February 10, the KDH shares price hit VND27,500 ($1.17) a piece.
Some apartment and villa projects of Khang Dien are Safira Khang Dien in District 9, HCMC, Lovera Vista (Binh Chanh district, HCMC), Verosa Park (District 9), Parcspring (District 2, HCMC), Topia Garden (Vung Tau town, Ba Ria-Vung Tau province), and Mega Village, Jamila Khang Dien, The Venica, Lucasta, Jamila Khang Dien, all in District 9, HCMC.
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