A customer consults a saleswoman at a store of Mobile World Group (MWG) in Hanoi. (Photo: thegioididong.vn) Hanoi (VNS/VNA) - Pyn Elite Fundhas divested capital from Mobile World Investment Joint Stock Company (MWG),said Vietnam Securities Depository (VSD).
Pyn Elite Fund, a Finnish fund which focuseson Vietnamese shares, has transferred more than 6.45 million MWG shares to JPMorgan Securities PLC.
With MWG now being traded at a market priceof over 110,000 VND (4.77 USD) per share, the above transfer deal is worth morethan 700 billion VND (30.35 million USD).
MWG was previously Pyn Elite’s largestinvestment for many years, but the foreign fund has continuously sold a largeamount of MWG shares since the end of 2019. Particularly at the end of 2019,the fund sold nearly half of the MWG shares they were holding, earningtrillions of VND.
According to the September portfolio report,the investment proportion at MWG still accounted for 5.56 percent of PynElite’s net asset value, equivalent to 24.8 million euros (29.7 million USD).However, by October, this investment was no longer in the fund’s 10 largestportfolios.
To replace the investment at MWG, thisforeign fund has continuously increased the proportion of investments inbanking stocks such as VietinBank (CTG) and MBBank (MBB).
The current largest investment of Pyn Elitein Vietnam’s market is into the Vietnam Engine and Agricultural MachineryCorporation (VEAM), accounting for 10.4 percent of the fund’s total net assetvalue.
Followed by three investments in threedomestic commercial banks including VietinBank (9.6 percent); HDBank (9.3 percent)and TPBank (8.7 percent).
In the fund’s 10 largest portfolios, thereare currently five investments in the financial and banking sector. In additionto the three above banks, the fund also invests in Military Bank (MBB) (4.7 percent)and Viet Capital Securities Company (VCI) (3.5 percent).
MWG reported net revenue in the third quarterof over 25.7 trillion VND, up 3 percent over the same period last year. Theafter-tax profit earned in the quarter was 951 billion VND, also up by 11 percent.
In the first nine months of the year, thecompany recorded over 81.3 trillion VND in revenue, up 6 percent and after-taxprofit reached nearly 3 trillion VND.
Compared to the plan for the whole of 2020,the group has completed 74 percent of the revenue target and 86 percent of theprofit target.
MWG is among the fastest growing stock groupin the past three months with an increase of nearly 60 percent. Each MWG shareis currently being traded at around 115,500 VND./.
VNA
