Major funds including Norges Bank, Vietnam Enterprise Investments Ltd., PENM III German GmbH & Co. KG are selling down their shareholdings in Hoa Phat Group.
Norges Bank has just sold nearly 7.2 million Hoa Phat Group shares (HSX: HPG), reducing its ownership from 43.76 million to 36.56 million shares.
In addition, another notable fund – Vietnam Enterprise Investments Ltd. – also sold 100,000 shares, cutting its ownership from 59.61 million to 59.51 million shares.
At the same time, the group of 14 funds related to these two funds also reduced their ownership in Hoa Phat Group from 202.37 million (equivalent to 6.108 per cent) to more than 195 million shares (equivalent to 5.8879 per cent).
Furthermore, PENM III Germany GmbH & Co. KG has just announced intentions to sell a total of 7 million shares. The transaction is expected to be conducted from February 23 to March 22, 2021.
Notably, PENM III registered to sell its remaining shares in Hoa Phat Group after selling 59.43 million shares from January 7 to February 5 this year.
For the whole year 2020, Hoa Phat Group recorded a revenue of VND91.279 trillion ($3.97 billion), while its after-tax profit was VND13.506 trillion ($587.2 million).
As the leading steel-maker in Vietnam, steel production remains the most significant business line for Hoa Phat.