Slumping Fund Sours Investor Appetite

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Specifically, foreign fund PYN Elite reported purchasing over 1.9 million shares of ASM (Sao Mai Group) on the floor on April 25, raising its ownership stake from over 35 million shares to over 37 million shares.

ASM share price movement from the beginning of 2023 to the session on May 3, 2024

On April 25, the ASM stock recorded a negotiated transaction equal to the number of shares bought by PYN Elite, at a value of nearly VND22 billion, equivalent to VND11,360 per share. On this session, ASM closed at VND11,200 per share.

PYN Elite Foreign Fund became a major shareholder of Sao Mai Group after purchasing 3.75 million shares in a negotiated deal in mid-January this year, raising its ownership of ASM from 13.13 million shares (3.9%) to 16.88 million shares (5.02%).

Since becoming a major shareholder of ASM, the foreign fund has bought nearly 24 million more shares, raising its ownership ratio of ASM above 11% of the capital.

Share price movement of PTB from the beginning of 2023 to the session on May 3, 2024

On the same day, foreign fund Dragon Capital raised its ownership ratio in Phu Tai Joint Stock Company (PTB) to over 6%, equivalent to more than 4 million shares after buying an additional 60,000 shares.

Based on the closing price of PTB at the end of the trading session at VND64,000 per share, it is estimated that the foreign fund spent nearly VND4 billion to complete the transaction.

Share price movement of HSG from the beginning of 2023 to the session on May 3, 2024

In contrast, Dragon Capital sold 500,000 shares of HSG (Hoa Sen Group) in the session of April 25, estimated to have collected nearly VND10 billion after reducing its ownership ratio of HSG below 10%, to over 61 million shares.

Khang Di

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