In a report sent to the Ho Chi Minh City Stock Exchange (HOSE), the Dragon Capital fund group said it had just successfully sold 1 million DXG shares of Dat Xanh Group Corporation on March 18 through Hanoi Investments Holdings Limited, thereby reducing the group's ownership ratio from 10.1% to 9.98%, meaning it still holds 71.9 million shares.
Dragon Capital's selling move comes in the context of DXG's current stock price increasing by more than 20% compared to October 18, 2023. Temporarily calculating the closing price of DXG stock on March 18 at VND 19,000/share, Dragon Capital earned VND 19 billion.
In addition, this fund group also successfully sold 2 million HSG shares of Hoa Sen Group Joint Stock Company through Vietnam Enterprise Investment Limited on March 15 when HSG shares increased by more than 24% compared to the end of October 2023. Thereby, reducing the ownership ratio to 11.95%, equivalent to 73.6 million shares.
DXG stock fluctuations in the past 6 months Source: Fireant
Provisionally calculating with the closing price of HSG shares on March 15 at 22,100 VND/share, after this deal, Dragon Capital pocketed about 44.2 billion VND.
Previously, the Dragon Capital fund group bought 2.8 million HSG shares on January 30, increasing its ownership ratio to 12.2% of Hoa Sen's charter capital, equivalent to 75.5 million shares. The transaction was conducted on January 30.
Also related to Hoa Sen shares, Mr. Tran Ngoc Chu, Standing Vice Chairman of the Board of Directors - Executive Board of Hoa Sen Group, earlier this month registered to sell 1.5 million HSG shares from March 7 to April 5 for the purpose of arranging personal finances.
If the sale is successful, Mr. Chu will only hold 281,147 HSG shares, equivalent to 0.046% of charter capital. Notably, this is the fourth time Mr. Chu has registered to sell 1.5 million HSG shares. In the previous three registrations, he was unable to complete the sale of HSG shares for the same reason that market conditions were not suitable.
At the recent shareholders' meeting, Hoa Sen submitted to shareholders for approval the restructuring policy, specializing in the steel pipe production and trading sector, converting Hoa Sen Phu My One Member Co., Ltd. into Hoa Sen Steel Pipe Joint Stock Company, with Hoa Sen owning 99% of the charter capital.
Forecasting that the situation in 2024 is potentially very unstable, the Group has set a business plan for the 2023-2024 fiscal year according to 2 options. Option 1 is a consumption output of 1.6 million tons, net revenue of 34,000 billion VND and after-tax profit of 400 billion VND. Option 2 is a consumption output of 1.7 million tons, net revenue of 36,000 billion VND and after-tax profit of 500 billion VND.
Source: https://nld.com.vn/dragon-capital-bo-tui-hon-63-ti-dong-sau-khi-chot-loi-hang-trieu-co-phieu-hoa-sen-dat-xanh-196240321090508846.htm
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