Hanoi (VNS/VNA) - In less than a month, Dragon Capital has reinstated its position as a significant shareholder in PV Drilling while also increasing its investments in Phu Nhuan Jewellery (PNJ) and FPT Digital Retail (FRT).
Hanoi Investments Holdings Limited, a fund member under Dragon Capital, recently disclosed the acquisition of over 1.1 million PNJ shares on October 2.
Post-transaction, Dragon Capital's ownership in Phu Nhuan Jewellery has risen to 6.2% of the total capital. Approximated at the closing price on October 2, the transaction is valued at around 109 billion VND (4.4 million USD).
The fund’s decision to boost its ownership stake comes at a pivotal moment for Phu Nhuan Jewellery as it enters the bustling Winter-Spring season - a popular time for weddings, driving up the demand for jewellery.
Additionally, a dynamic gold market is expected to fuel business growth for the company in the latter half of this year.
Regarding the retail jewellery sector, Phu Nhuan Jewellery's main business segment, Viet Dragon Securities (VDSC) projects a potential 10.5% annual growth from 2024 to 2028, contingent upon the company securing input materials amidst a deepening shortage of gold supply.
Previously, another member fund of Dragon Capital reported a net acquisition of 105,000 FRT shares, elevating their holdings to 17.6 million shares, constituting 13.03% of the company's capital.
Dragon Capital now ranks as the second largest shareholder in FPT Digital Retail, trailing only FPT Group, with an ownership stake exceeding 46.5% of the company's capital.
In the first half of the year, FPT Digital Retail saw a robust 22.5% surge in gross revenue compared to the same period last year to over 18.2 trillion VND. Its profits after tax soared to 109 billion VND after recording a previous year's loss of nearly 213 billion VND.
Notably, the FPT Long Chau pharmacy chain experienced an impressive 67% revenue growth in the first half of 2023, hitting more than 11.5 trillion VND and contributing 63% to the overall revenue of the parent company.
According to VDSC, forthcoming vaccine consumption per capita is expected to surge, driven primarily by increasing disposable incomes and sustained public health consciousness and disease prevention efforts.
The Long Chau vaccination chain, a part of FPT Long Chau, currently stands out as the fastest-growing vaccination network. VDSC expects revenue for this chain in 2024 to reach around 1.4 trillion VND, capturing a market share of around 6%.
Dragon Capital, a foreign fund group, has diversified its investments by acquiring oil and gas stocks in addition to retail.
Two Dragon Capital member funds, Samsung Vietnam Securities Master Investment Trust and Vietnam Enterprise Investments Limited, purchased 50,000 and 1,200,000 shares of PV Drilling (PVD), respectively, on September 30, increasing Dragon Capital's ownership to 5.22%.
Earlier in September, another Dragon Capital member, DC Developing Markets Strategies Public Limited Company, sold 500,000 PVD shares, reducing Dragon Capital's total ownership to 4.92% in PVD Drilling.
Within a month, Dragon Capital reemerged as a major shareholder in PV Drilling with a 5.22% ownership stake./.
