Investment fund Dragon Capital to sell 4.76 percent stake in ACB
Investment fund Dragon Capital to sell 4.76 percent stake in ACB
Asset management company Dragon Capital has registered to sell a 4.76 percent stake its funds own in lender ACB.
The logo of ACB is seen on a building. Photo acquired by VnExpress.
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It will be done between March 10 and April 8 either by order matching or put-through orders, according to a statement from ACB.
With the share closing at VND32,450 ($1.41) on Friday, the transaction will be worth around VND3.25 trillion ($140.94 million).
Two funds, First Burns Investments Limited and Asia Reach Investments Limited, will sell off their 4.99 percent stake in the bank while a third, DC Developing Markets Strategies Public Limited Company, will buy 0.23 percent to increase its ownership to 0.36 percent.
Vietnam-focused Dragon Capital manages around $2.9 billion worth of assets.
ACB’s share price has surged 27 percent after the market fell at the end of January, establishing a new all-time high of VND33,250 on March 1.
The bank reported a 28 percent increase in post-tax profit last year to VND7.68 trillion.