Dragon Capital net sold nearly 700,000 shares of Duc Giang Chemicals (DGC)

Foreign fund group Dragon Capital has just registered to sell 694,450 shares of Duc Giang Chemicals (Code DGC), reducing its ownership ratio from 6.02% to only 5.84% of charter capital.

Of which, Vietnam Enterprise Investment Limited Fund sold 597,760 shares; DC Developing Markets Strategies Public Limited Company Fund sold 161,980 shares; Norges Bank Fund sold 14,710 shares; Hanoi Investments Holdings Limited Fund bought 80,000 shares.

Foreign fund Dragon Capital sells nearly 700,000 shares of Duc Giang Chemicals (DGC)

This move completely goes against the previous trend when Dragon Capital bought nearly 550,000 DGC shares in early November and December despite the company's declining business results.

Specifically, in the third quarter, Duc Giang Chemicals recorded revenue of VND2,463.5 billion, down 33.3% year-on-year. Gross profit reached VND839.8 billion, only half of the same period last year.

Financial revenue increased by 41.6%, reaching VND203.3 billion. Financial expenses increased by 48.8%, increasing to VND21.9 billion. Sales and administrative expenses both decreased, recording a total of VND156.8 billion.

After deducting all expenses and taxes, DGC's after-tax profit was VND802.9 billion, down 47% compared to the same period last year. Accumulated revenue in the first 9 months of the year reached VND7,360.2 billion, down 35.1% compared to last year. After-tax profit reached VND2,504.7 billion, down 49.1%.

Compared with the business target set at the beginning of the year, DGC has now completed 83.5% of the annual profit target.

In the capital structure of Duc Giang Chemicals, equity currently accounts for 12,507.2 billion VND, liabilities currently account for only about 2,185.8 billion VND.

Source: https://www.congluan.vn/dragon-capital-ban-rong-gan-700000-co-phieu-hoa-chat-duc-giang-dgc-post277391.html