Finnish fund pours capital into Digiworld

September 16, 2020 | 08:43

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Hanoi - Finland-based Evli Emerging Frontier Fund announced on September 15 that it purchased more than 103,850 shares in technology equipment distributor Digiworld (DGW).

finnish fund pours capital into digiworld

Illustrative image (Photo: cafef)

After the purchase, the fund has become a major shareholder of DGW, holding 2.2 million shares of the company, equivalent to the holding ratio of 5.14 percent.

The fund is owned by Evli Fund Management Company, a Nordic fund management company founded in 1985. This fund management company is 100 per cent owned by Evli Bank, a Finnish bank which manages assets of 12.2 billion euros.

Evli Emerging Frontier was introduced in October 2013, focusing on investing in fast growing economies. As of the end of August, the fund's portfolio size reached more than 61 million euros.

Vietnam is the third largest market in its portfolio with 18 percent of proportion.

Digiworld six-month revenue reached 4.9 trillion VND and after-tax profit totalled 93 billion VND, up 45 percent and 55 percent respectively over the same period last year. Earnings per share reached 2,166 VND.

In May this year, Digiworld became one of the four official distributors of Apple products in Vietnam, besides Synnex FPT, Petrosetco and Viettel. Main product categories include iPhone, MacBook, iPad, Apple Watch, Beats, Apple TV and other accessories.

DGW shares ended Tuesday at 53,800 VND per share, three times higher than that in April. Temporarily calculating at this price, the number of DGW shares that Evli Emerging Frontier is holding is worth 117 billion VND.

VNA

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