PYN Elite completes 12 per cent stake acquisition in DNSE

January 31, 2024 | 10:12

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The investment fund PYN Elite has just finalised its acquisition of a 12 per cent stake in DNSE, a technology-based stockbrokerage company in Vietnam, as confirmed by the latest regulatory clearance received on January 26.

PYN Elite completes 12 per cent stake acquisition in DNSE

This marks the completion of the transaction that was initially agreed upon in November.

DNSE's public offering, which concluded on January 24, was met with robust demand and was fully subscribed. PYN Elite recorded the DNSE shares in its portfolio at the initial public offering (IPO) price, contributing to a notable 1.8 per cent increase in the fund's net asset value on the day of completion.

DNSE has established itself as a profitable entity in the burgeoning Vietnamese market, with ambitious growth targets for its trading platform.

The company has witnessed a substantial surge in its customer base, growing from 190,000 in 2023 to 561,000 at present.

Looking ahead, DNSE is setting its sights on reaching two million customers by the end of 2024.

Previously, at an investment opportunity seminar organised by DNSE on January 18, DNSE's leadership announced that they would list their shares on the Ho Chi Minh City Stock Exchange in the second or third quarter of 2024 – following the successful IPO.

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By Trung Duong

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