Dragon Capital fund sells 5 million shares of Khang Dien House
Vietnam Enterprise Investments Limited Fund (VEIL), run by Dragon Capital, announced on September 16 that it had sold 5 million shares of Khang Dien House Trading and Investment JSC (KDH) via a put-through method on September 11.
In the first half of this year, KDH recorded net revenue of 1.49 trillion VND, an increase of 19 percent year-on-year (Photo the courtesy of Khang Dien House)Hanoi (VNS/VNA) - Vietnam Enterprise Investments Limited Fund (VEIL), run by Dragon Capital, announced on September 16 that it had sold 5 million shares of Khang Dien House Trading and Investment JSC (KDH) via a put-through method on September 11.
After the transaction, Dragon Capital's largest fund owns more than 9 million shares of KDH, equivalent to a rate of 1.62 percent.
KDH sold the shares at a price of 23,850 VND per share, equivalent to a value of 119.25 billion VND (5.1 million USD).
The company is the sixth-largest investment in VEIL’s portfolio. In the first half of this year, KDH recorded net revenue of 1.49 trillion VND, an increase of 19 percent year-on-year. Post-tax profit reached 408 billion VND, up by 90 percent in the same period last year and 37 percent of the yearly plan.
The company recently announced that it will establish three subsidiaries with a total charter capital of 220 billion VND.
The new units are Phu Hai Real Estate Development Company Limited, with 100 billion VND of capital, Nguyen Phat Real Estate Investment Company Limited, with 20 billion VND of capital and Nam Thong Real Estate Development Company Limited, with 100 billion VND of capital.
A group of investment funds run by Dragon Capital now holds a total of 89 million shares of KDH, equivalent to 15.93 percent. With the current market price of 24,500 VND per share, the market value of the shares totals nearly 2.2 trillion VND./.
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