Foreign Fund Exits Major Shareholder Role in Thien Viet Securities

On January 7, 2026, Wardhaven Vietnam Fund sold 525,000 shares of TVS, reducing its ownership stake to 4.99% and relinquishing its position as a major shareholder in Thien Viet Securities.

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Wardhaven Vietnam Fund (WVF) recently reported the sale of 525,000 TVS shares of Tien Viet Securities Corporation (TVS) during the trading session on January 7, 2026. This transaction reduced their ownership from over 11.7 million shares (5.22%) to 11.19 million shares (4.99%). As a result, WVF is no longer a major shareholder of Tien Viet Securities.

On January 7, 2026, TVS recorded a negotiated trading volume of exactly 525,000 shares, valued at over 7.7 billion VND (averaging 14,700 VND per share).

Wardhaven Vietnam Fund (WVF) is a fund specializing in investments in Vietnamese public companies, managed by Wardhaven Capital Limited (WCL), an independent investment management firm focused on the Vietnamese market.

WVF is headquartered in the Cayman Islands, a British Overseas Territory known for its tax haven status. Meanwhile, WCL is based in Hong Kong, China, with a representative office in Ho Chi Minh City (162 Pasteur Street, Saigon Ward).

The current director of WVF is Mr. Jonathon Ralph Alexander Waugh, who also serves as a fund manager and member of the Investment Committee at WCL.

WVF reduced its ownership just one day after Tien Viet Securities finalized its shareholder list for a stock dividend distribution.

According to reports, on January 6, 2025, Tien Viet Securities completed the distribution of 24.04 million shares as dividends to 3,265 shareholders, with 992 remaining fractional shares to be canceled.

The stock dividend ratio was 100:2, meaning shareholders holding 100 shares received an additional 12 newly issued shares. The transfer of these shares is expected to occur in Q1 and/or Q2 of 2026.

The total issuance value, based on par value, is approximately 240.5 billion VND, funded from undistributed after-tax profits.

Following this issuance, Tien Viet Securities’ total shares increased from nearly 200.4 million to over 224.4 million, raising its charter capital to nearly 2,244.4 billion VND.

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