Dragon Capital Acquires Additional 3 Million HSG Shares from Hoa Sen Group

Dragon Capital has recently acquired an additional 3 million shares of HSG, increasing its ownership stake in Hoa Sen Group to over 11.3%.

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The Ho Chi Minh Stock Exchange (HoSE) has recently reported that Dragon Capital has bought 3 million shares of Hoa Sen Group (stock code: HSG).

Source: HSX

In particular, Amersham Industries Limited, a fund managed by Dragon Capital, has purchased 3 million shares, raising its ownership to over 69.75 million shares of HSG, equivalent to 11.32% of Hoa Sen Group’s capital.

The transaction was completed on January 26th. At the end of the session, HSG closed at VND 23,550 per share. Based on this price, Dragon Capital has spent VND 70.65 billion to purchase 3 million shares of HSG.

In contrast, Mr. Vu Van Thanh, Deputy General Director of Hoa Sen Group, has registered to sell 800,000 shares of HSG to arrange personal finances.

The transaction is expected to take place from January 29th to February 27th, through matching orders and/or agreements.

If the sale is successful as registered, Mr. Thanh’s ownership will be reduced from 806,202 shares (0.13%) to 6,202 shares (0.001%).

In another development, the company has recently approved a plan to invest in the form of capital contribution with a 40% stake to establish Hoa Sen Sai Gon Joint Stock Company, expected to be implemented in January 2024. Mr. Tran Ngoc Chu will be the representative capital contributor.

Hoa Sen Sai Gon will have a charter capital of VND 100 billion; headquartered at 22-24 Nguyen Co Thach, Sala Urban Area, An Loi Dong Ward, Thu Duc District, Ho Chi Minh City.

The company will operate in the real estate business, focusing on finding real estate with a value of VND 1,000 – 3,000 billion to develop office, commercial center, and residential projects; allocate office space for Hoa Sen Group; lease the properties; or consider transfers.

SOURCEcafef
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