02.11.2020, 22:56

Dragon Capital’s investment fund finished buying over 2.8 million ACB shares

Dragon Capital’s member fund bought nearly 2.83 million ACB shares from October 12 to October 28. The transaction value is estimated at about 70 billion VND.

Dragon Capital’s investment fund finished buying over 2.8 million ACB shares

A transaction point of ACB. (Photo: Quang Hung)

Asia Commercial Bank (ACB – Code: ACB) announced DC Developing Markets Strategies Public Limited Company (DCDMSPLC) – a member fund of the Dragon Capital fund group, bought nearly 2.83 million shares of ACB, completed nearly 100 % of subscriptions.

Trading will be carried out from October 12 to October 28, by agreement method via the Vietnam Securities Depository (VSD).

After the transaction, Dragon Capital’s investment fund holds a total of 2.83 million ACB shares, equivalent to 0.13% of the bank’s charter capital.

During October 12 – October 28, ACB’s market price ranged from 23,300 to 26,000 dong / share. Estimated at the average price of 24,650 VND / share, Dragon Capital’s member fund has spent about 70 billion VND to perform the transaction.

ACB’s stock price movement over the past 3 months. (Source: VNDirect).

Also related to the trading of ACB shares of Dragon Capital group, before that, the two funds First Burns Investments Limited and Asia Reach Investments have finished selling over 46.6 million shares from October 9 to October 13.

Specifically, First Burns Investments Limited has sold 32.9 million shares, reducing the number of holdings from 86.4 million to 53.5 million shares, equivalent to the ownership rate decreased from 4% to 2.48%. .

Meanwhile, Asia Reach Investments Limited also completed the sale of 13.7 million shares, reducing its ownership from 68 million to 54.3 million shares, equivalent to the holding rate decreased from 3.15% to 2.51 %.

It is known that Dragon Capital Chairman, Mr. Dominic Scriven is currently a Member of the Board of Directors of ACB.

Transactions related to ACB shares have been active in recent weeks as the bank is on the way to change listing from Hanoi Stock Exchange (HNX) to Ho Chi Minh City Stock Exchange (HOSE).

In October alone, a total of nearly 294 million shares of ACB were traded among investors with a trading value of nearly VND 7,100 billion (equivalent to more than 13.3 million units / day). At the peak, on October 9, nearly 48.7 million ACB shares were traded with a value of more than 1,164 billion dong.

Regarding ACB’s business results, in the first 9 months of the year, the bank’s pre-tax profit reached 6,411 billion dong, up 15.3%, equal to 84.4% of the bank’s yearly profit plan (7,600 billion dong).

By the end of September, total assets of ACB were 418,748 billion dong, up 9.2%. In which, customer loan balance increased by 10.7% to 297,386 billion dong. Customer deposits increased by 8.6% to VND 334,729 billion.

In the first 9 months of the year, ACB’s bad debt increased by 71% to VND 2,480 billion. The ratio of NPLs to outstanding loans increased from 0.54% to 0.83%.

Source: vietnambiz.vn – Translated by fintel.vn