Tael Two Partners LTD, a Singapore-based firm, announces a related-party transaction involving the sale of shares in Vietnam Sun Corporation (VNS-HOSE).
Tael Two Partners LTD has registered to sell one million VNS shares to restructure its investment portfolio. The transaction is expected to take place between August 21 and September 19, 2024, through matching and/or put-through transactions.
If the transaction is successful, Tael Two Partners LTD will reduce its ownership in Vinasun from over 7.9 million shares, representing 11.65%, to over 6.9 million shares, or 10.18% of VNS’s capital.
Previously, between July 18 and August 16, 2024, Tael Two Partners LTD sold 9,100 VNS shares out of the registered sale of two million shares. The reason for not selling the full registered amount was due to market conditions not meeting expectations.
According to data from HOSE since October 2023, the foreign fund has continuously announced its registration to sell VNS shares. At that time, the fund held 12,416,710 shares, representing 18.30% of VNS’s capital.
In terms of financial performance, the company reported a 57.8% decline in quarterly profit, from over VND 40 billion to nearly VND 17 billion. This decrease is attributed to the company’s continued support policies for its drivers and partners.
For the first half of 2024, Vinasun recorded a revenue of VND 531.84 billion, a 15.4% decrease compared to the same period last year. The after-tax profit was VND 38.94 billion, a 58.2% drop from the first half of 2024.
On the stock market, VNS shares are currently trading at around VND 10,450 per share, an 11% decrease from the beginning of the year.
