Mr. Nguyen Duc Tai registered to buy one million MWG shares

The Chairman of Mobile World has just registered to buy one million MWG shares after this code has been traded on the floor for many sessions and foreign investors have been net sellers.

According to the Ho Chi Minh City Stock Exchange (HoSE), Mr. Nguyen Duc Tai, Chairman of the Board of Directors of Mobile World Investment Corporation (MWG), registered to buy these shares from November 8 to December 7 through negotiated transactions or order matching on the floor. The purpose is to increase the ownership ratio.

If the transaction is successful, Mr. Tai will own 36.1 million MWG shares, equivalent to 2.46% of the company's equity. According to MWG's closing share price of VND38,950 on November 3, it is estimated that Mr. Tai will spend about VND39 billion to complete the transaction.

Mr. Tai's purchase registration took place in the context that MWG shares had just experienced two floor-price sessions on October 31 and November 1, then dropped to 33,600 VND per share in the session on November 2 - the lowest in more than 3 years.

The reason for the sharp drop in stocks is the sharp increase in selling pressure from foreign investors. In the 3 sessions from October 31 to November 2, foreign investors net sold 15.8 million MWG shares, with a net selling value of VND324 billion.

According to HoSE, foreign funds related to Dragon Capital fund management company sold a net 4.1 million MWG shares on November 1. Of which, CTBC Vietnam Equity Fund sold 1.5 million shares, DC Developing Markets Strategies Public Limited Company sold 1 million shares, Samsung Vietnam Securities Master Investment Trust sold 137,900 shares. In contrast, Amersham Industries Limited fund bought 500,000 MWG shares.

Dragon Capital group's total ownership decreased from 7.19% (105 million shares) to 6.9% of capital (101 million shares). The transaction was conducted in the session of November 1.

Dragon Capital’s move further widened the net selling momentum of foreign investors in this leading retail stock. Since the beginning of October, foreign investors have net sold a total of nearly 24 million MWG shares, equivalent to a net selling value of more than VND1,100 billion. This left MWG with about 2% foreign room.

Thi Ha

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