On July 25, 2024, Legendary Venture Fund 1 (Legendary), a foreign investment fund based in Singapore, reported that it had purchased a total of 60.8 million SBT shares, equivalent to 8.21% of the voting rights. This brings their total ownership to 116.31 million shares, or 15.71% of the voting rights. Prior to this, the Fund held over 55.5 million shares, representing 7.5% of the voting rights.
Legendary specializes in investing in high-potential businesses across Asia. The Fund identifies investment opportunities by assessing the intrinsic value and sustainable development strategies of enterprises. It prioritizes listed companies with large market capitalization and sustainable business growth, with a particular focus on enterprises that prioritize Environmental, Social, and Governance (ESG) factors in their development strategies.
While the stock market has recently witnessed a strong net selling trend from foreign investors, the opposite has occurred with SBT shares. Statistics show that as of July 23, foreign ownership in SBT has consistently grown, reaching 21%, a 73% increase compared to the beginning of the year. SBT has frequently been among the top stocks with the highest net foreign buying, along with MWG, PVS, MBB, and HPG. This indicates a shift towards more cautious and selective foreign investment trends, focusing on sustainable development and ESG-compliant stocks.
Commenting on the continuous increase in foreign ownership, the new Chairwoman of TTC AgriS, Ms. Dang Huynh Uc My, shared: “With the current global economic trends, TTC AgriS is open to partnerships with foreign investors who share our vision, business strategy, and especially experience in the field of ESG. We believe that the support of our foreign partners will help TTC AgriS expand its operations and enhance its competitiveness in the international market. This is also an important step in our commitment to bringing sustainable value to our shareholders and contributing positively to the development of Vietnam’s agriculture sector.”
Chairwoman Dang Huynh Uc My continuously forges strategic partnerships for TTC AgriS in governance and “green” capital, aiming for a target of 60,000 billion VND by 2030.
In fact, TTC AgriS has always been a pioneer in Vietnam in upgrading and standardizing its corporate governance system based on sustainable development principles, applying ESG standards across its governance, production, and business activities. For over half a century, the company’s “green” and sustainable development strategy has been its guiding principle, attracting “green” capital from foreign investors seeking investment opportunities in Vietnam.
TTC AgriS’s extensive collaboration with a foreign investor sharing its vision, business strategy, and ESG expertise is also in line with the leadership’s development strategy to enhance TTC AgriS’s position, helping the company expand its operations and improve its international competitiveness.
TTC AgriS is recognized among the 500 most profitable enterprises in Southeast Asia – Fortune 500 Southeast Asia 2024, a list published for the first time by Fortune magazine (USA)
