Investment Fund Sells Off After Lunar New Year

Specifically, Dragon Capital’s billion-dollar fund Vietnam Enterprise Investments Limited has sold 1 million shares of VCG (Vietnam Export Import and Construction Corporation) in the session on February 20, thereby reducing the ownership ratio of the entire Dragon Capital group to 6.97%, equivalent to over 37 million shares.

Based on the closing price of VCG stock in the session on February 20, which is 25,350 VND/share, it is estimated that Dragon Capital group has earned over 25 billion VND.

Prior to that, in January, Dragon Capital continuously bought VCG shares. Specifically, on January 16, foreign funds net bought 700,000 VCG shares, increasing the ownership ratio above 6%; on January 23, they acquired over 4.5 million VCG shares, raising the ownership ratio over 7%; on January 25, they bought an additional 1.25 million shares, increasing the ownership ratio over 8%; by January 30, they bought another 1 million units, raising the ownership ratio over 9%.

Thus, after buying a total of over 17.4 million VCG shares, Dragon Capital foreign investors started selling part of their VCG shares when the stock price approached its highest level in the past month.

Also in the selling session, Dragon Capital reduced its ownership ratio in Dat Xanh Group Joint Stock Company (DXG) to 11%, remaining at 10.98% after selling 140,000 DXG shares on February 19.

The selling of DXG shares by foreign funds takes place in the context of the stock price entering the phase of value erosion.

Prior to that, on February 16, Dragon Capital also sold 1 million GEX shares (Gelex Group Joint Stock Company), reducing the ownership ratio below 5% and ceasing to be a major shareholder of the company.

Based on the closing price of GEX stock in the session on February 16, which is 22,350 VND/share, it is estimated that Dragon Capital group has earned over 22 billion VND.

Source: VietstockFinance

Khang Di