Dragon Capital no longer a major shareholder of PV Power

16-Oct-2019 Intellasia | VNS | 6:02 AM Print This Post

A group of investment funds run by Dragon Capital has sold a total of 1.27 million shares in PetroVietnam Power Corporation (POW), reducing their ownership from 5.05 per cent to 4.99 per cent in the firm.

Accordingly, Dragon Capital is no longer a major shareholder of POW.

The sellers were Wareham Group Limited (317,430 shares), Quena Ltd (300,000 shares), KB Vietnam Focus Balanced Fund (255,000 shares), Norges Bank (170,000 shares), DC Developing Markets Strategies PLC (160,000 shares) and Amersham Industries Limited (70,000 shares).

Currently, the Vietnam Oil and Gas Group (PVN) is the largest shareholder of POW, holding 79.94 per cent of the capital, followed by Dragon Capital Group which owns 117 million shares (4.99 per cent).

POW is also included in the portfolio of some big exchange-traded funds (ETFs) such as VNM ETF, FTSE Vietnam ETF and iShare MSCI Frontier 100 ETF.

On the stock market, POW hit a peak of VND17,500 (US$0.7) on February 18 then continuously declined, down by 27 per cent since then. It closed Friday at VND12,750 per share.

In the first six months of this year, PV Power recorded revenue of VND18.3 trillion, an increase of 2.8 per cent year-on-year. Post-tax profit rose by 28 per cent to VND1.7 trillion.



Category: Stocks, Vietnam

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