Singapore's Orchid offloads FPT shares

Singapore's Orchid offloads FPT shares

Orchid Capital Investment Pte Ltd announced a sale of nearly 29.17 million FPT Corporation shares, or 10.66 per cent of the company's holdings, last week.

Orchid Capital is the largest shareholder of FPT, one of the country's leading IT and telecommunications companies.

In a report sent to the State Security Commission of Viet Nam on Tuesday, the Singaporean shareholder said that it had sold nearly 18 million FPT shares at VND45,000 (US$2,14) each on September 4 and the last 11 million shares in the two following days. The total value of those transactions was over VND1,300 billion ($61.9 million). No information about the buyers has been revealed.

Orchid Capital belongs to the Singaporean investment group Richard Chandler Corporation and became FPT's largest shareholder in 2012. At that time, the Singaporean company bought each share for VND34,000-38,000 ($1.6-1.8).

Currently, Orchid Capital holds more than 11 per cent of shares in Masan Group, which specialises in making food and beverage products in Viet Nam.

Meanwhile, FPT's former CEO Truong Dinh Anh announced yesterday that he had registered to sell 1.16 million of the 1.18 million shares he holds in FPT.

A group of six foreign investors acquired over 3.5 million shares in FPT between July and September, increasing their ownership from 5.01 to 6.3 per cent.

vietnamnews