American investor earns VND1,000 billion from Vietnam’s hot stock

21-Sep-2021 Intellasia | Vietnamnet | 5:02 AM Print This Post

The largest private equity fund management company in the US has just sold Vinhomes shares and made a profit of more than VND1,000 billion (nearly $ 43.5 million) after a year.

According to HCM City Stock Exchange (HOSE), Viking Asia Holdings II PTE. LTD an organisation related to the largest private equity fund management company in the US KKR has sold 31.96 million Vinhomes shares (VHM) during the period from August 18 to September 14, when VHM was priced at around 110,000 VND/share.

At this price, the organisation could collect nearly VND3,500 billion, earning a profit of more than VND1,000 billion after more than one year holding the shares. In June 2020, this organisation bought VHM shares at the price of VND75,000 per share.

After the transaction, the ownership of Viking Asia Holdings II PTE. LTD decreased from 5.5 percent to 4.6 percent of charter capital and is no longer a major shareholder in VHM. This means that it will not have to publish its next transaction of VHM shares.

Previously, from August 19 to September 6, parent company Vingroup sold nearly 100.5 million VHM shares, earning about VND 10,970 billion.

On the Vietnamese stock market, foreign investors have sold stocks for dozens of consecutive sessions. In the past eight months of the year, foreign investors sold a record of more than VND46 trillion of shares, equivalent to more than 2 billion USD.

In August, the stock market of Vietnam fluctuated strongly. The VN Index recovered from the bottom in July to 1,370 points before coming back to 1,331 points on August 31.

In January-August 2021, domestic investors opened more than 842,000 new securities accounts, more than the total number of new accounts opened in 2018-2020. About 3.4 million accounts have been opened, or about 3.3 percent of the population.

https://vietnamnet.vn/en/business/american-investor-earns-vnd1-000 billion-from-vietnam-s-hot-stock-775602.html

 

Category: Stocks, Vietnam

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