Dragon Capital fund sells 5 million shares of Khang Dien House (KDH)
Dragon Capital fund sells 5 million shares of Khang Dien House (KDH)
Vietnam Enterprise Investments Limited Fund (VEIL), run by Dragon Capital, announced Wednesday it had sold 5 million shares of Khang Dien House Trading and Investment JSC (KDH) via a put-through method on September 11.
After the transaction, Dragon Capital's largest fund owns more than 9 million shares of KDH, equivalent to a rate of 1.62 per cent.
KDH sold the shares at a price of VND23,850 per share, equivalent to a value of VND119.25 billion (US$5.1 million).
The company is the sixth-largest investment in VEIL’s portfolio. In the first half of this year, KDH recorded net revenue of VND1.49 trillion, an increase of 19 per cent year-on-year. Post-tax profit reached VND408 billion, up by 90 per cent in the same period last year and 37 per cent of the yearly plan.
The company recently announced that it will establish three subsidiaries with a total charter capital of VND220 billion.
The new units are Phu Hai Real Estate Development Company Limited, with VND100 billion of capital, Nguyen Phat Real Estate Investment Company Limited, with VND20 billion of capital and Nam Thong Real Estate Development Company Limited, with VND100 billion of capital.
A group of investment funds run by Dragon Capital now holds a total of 89 million shares of KDH, equivalent to 15.93 per cent. With the current market price of VND24,500 per share, the market value of the shares totals nearly VND2.2 trillion.
