S Korea’s KIM Fund no longer major shareholder in Vietnamese leading contractor Coteccons

South Korea’s KIM Vietnam Fund Management is no longer a major shareholder in Coteccons (HoSE: CTD) after its affiliated funds sold shares in one of Vietnam’s largest construction contractors.

In a filing dated Tuesday, Coteccons said four member funds under KIM Vietnam sold a combined 950,000 CTD shares on May 8, reducing the clan’s ownership stake to 4.13%, or over 4.4 million shares.

Under Vietnamese securities regulations, investors holding less than 5% are no longer classified as major shareholders.

This marks the eighth ownership update since KIM became a major shareholder of Coteccons in June 2024, including four increases and four decreases in its ownership ratio, the Vietnamese builder said.

Based on Coteccons’s closing price on May 8, the transaction was estimated at VND73 billion ($2.77 million).

Among the remaining holdings, TMAM Vietnam Equity Mother Fund is currently the largest shareholder within the KIM Vietnam group, owning about 1.54% of Coteccons, equivalent to more than 1.6 million shares. KIM Vietnam Growth Equity Fund holds 1.38%, while KITMC Worldwide Vietnam RSP Balanced Fund owns around 0.69%.

Korea Investment Holdings, the parent group of KIM Vietnam, manages more than $327 billion in assets globally. Established in 2006, KIM Vietnam currently oversees investment funds and discretionary portfolios worth around $1.3 billion focused primarily on Vietnam’s stock market.

For the first nine months of the fiscal year (July 1, 2025 - June 30, 2026), Coteccons reported revenue of VND23.87 trillion ($905.86 million), up 43%, and net profit of VND642 billion ($24.37 million), up 75% year-on-year.

Coteccons has completed about 80% of its full-year revenue target of VND30 trillion($1.14 billion) and nearly 92% of its profit goal of VND700 billion ($26.57 million).