Dragon Capital spends $143.6 million on Sabeco shares

March 16, 2018 | 12:53

(0) user say

Seven foreign investment funds managed by Dragon Capital completed the purchase of 15.3 million shares, equaling 2.3 per cent of the charter capital of Sabeco, on March 15 for VND3.27 trillion ($143.6 million).

dragon capital spends 1436 million on sabeco shares

Dragon Capital spent $143.6 million buying Sabeco's stake

The deal took place after Sabeco reported a plunge in share value.

Previously, on December 18, 2017, Sabeco successfully sold 343 million shares, or 53 per cent stake, to Vietnam Beverage Co., Ltd. (a subsidiary of Thai Beverage) for VND110 trillion ($4.83 billion).

Detailed information about the deal was published by Vietnam Securities Depository (VSD) (See box below).

Ending the transaction session of March 15, Sabeco’s shares were valued at VND214,000 ($9.4), thus, Dragon Capital spent VND3.27 trillion ($143.6 million) on the deal.

In late February, a group of funds run by Dragon Capital, including Vietnam Enterprise Investments Ltd. (VEIL), Wareham Group Limited, Norges Bank, KB Vietnam Focus Balanced Fund, and Hanoi Investments Holdings Limited, spent over VND841 billion ($37 million) to buy 5.22 million shares in Phu Nhuan Jewelry JSC (HSX: PNJ).

Besides, in August 2017, Dragon Capital and VinaCapital completed the purchase of a 30 per cent stake, equaling six million shares, in FPT Retail, aiming to plunge deeper into the retail sector, especially the mobile retail segment.

Neither the deal’s value nor the share volumes transferred to Dragon Capital and VinaCapital were disclosed, however, according to rumours, Dragon Capital currently holds a 20 per cent stake in the mobile retailer.

By Kim Oanh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional