Dragon Capital to raise ownership in Khang Điền House (KDH)
Dragon Capital to raise ownership in Khang Điền House (KDH)
This move follows a report from Dragon Capital, detailing the increase in ownership of foreign investor-related groups holding significant KDH shares.
Dragon Capital has raised its ownership in the Khang Điền House Trading and Investment JSC (KDH) to over 9 per cent by acquiring 1.1 million KDH shares through its subsidiary funds.
This move follows a report from Dragon Capital, detailing the increase in ownership of foreign investor-related groups holding significant KDH shares.
On December 19, Dragon Capital's Norges Bank Fund purchased 400,000 KDH shares, while the its Vietnam Enterprise Investments Limited Fund acquired 700,000 shares.
This transaction elevated Dragon Capital's KDH shares from nearly 90.75 million to nearly 91.85 million, representing an increase from 8.9749 per cent to 9.0837 per cent in Khang Điền House.
Conversely, VinaCapital is planning to sell its entire 23,425 KDH shares, constituting 0.0023 per cent of the charter capital, to restructure its investment portfolio.
The sale is scheduled from December 25 to January 23, 2025, aiming to reduce VinaCapital's ownership in KDH to zero.
Việt Nam Ventures Limited, a VinaCapital fund, intends to sell over 1.5 million KDH shares. The transaction, valued at approximately VNĐ15.4 billion, is set to occur from December 5 to January 3, 2025.
In the third quarter, Khang Điền's consolidated financials revealed a 59 per cent drop in net revenue to VNĐ252.6 billion, with gross profit declining by 64 per cent to VNĐ157.8 billion.
The company reported a profit after tax of 66.4 billion VND, marking a 69 per cent decrease over last year.
For the first nine months of 2024, Khang Điền saw a 24 per cent decrease in net revenue and a 61.5 per cent decrease in profit after tax compared to the prior year, achieving 32 per cent of the revenue plan and 52 per cent of the profit target set for the year.
As of September 30, Khang Điền's total assets reached over VNĐ31.6 trillion, up by 19.3 per cent from the start of the year, while total liabilities increased by 16 per cent to more than VNĐ12.7 trillion.
