After the transaction, the foreign fund group's ownership ratio at VTO was increased to 6,21% of capital (equivalent to 4.96 million units).
Recently, the member fund group of KIM Vietnam Fund Management Co., Ltd reported that it had purchased more than 546,000 VTO shares of Vitaco Petroleum Transport JSC on July 25. Immediately after that, this fund group continued to purchase 600,000 VTO shares on July 26.
The total amount of shares purchased was more than 1.1 million shares, thereby increasing the ownership ratio at VTO of the foreign fund group to 6,21% of capital (equivalent to 4.96 million units) and becoming a major shareholder at Vitaco.
The move to increase ownership by the KIM fund group took place in the context of VTO's market price being on a meteoric rise. This stock reached a decade-high of VND15,900 in mid-July, equivalent to an increase of nearly 70% after more than 6 months before adjusting since then.
VTO's market price is currently trading around 14,100 VND/share, down about 11% since the peak.
It is known that Vitaco is a State-owned enterprise established under Decision No. 2585/QD/BTM dated October 27, 2005 of the Minister of Trade (now the Ministry of Industry and Trade) on the basis of converting Vitaco Petroleum Transport Company into Vitaco Petroleum Transport Joint Stock Company. The enterprise officially operated from the beginning of February 2006.
Vitaco currently has a charter capital of nearly 800 billion VND, of which Petrolimex Waterway Transport Corporation - One Member Limited Liability Company is the parent company holding 52% shares.
Regarding the business results of the second quarter of 2024, Vitaco recorded a sharp increase in after-tax profit of 314% compared to the same period to nearly 25 billion VND. The company said that the sharp increase in profit was mainly due to a decrease in the cost of transportation operations (decreased fleet depreciation costs).
Accumulated profit after tax in the first 6 months of the year reached nearly 53 billion VND, an increase of 166% compared to the same period last year. With the above results, this shipping company has completed 62% of the profit target set for the whole year.
According to research, KIM is the first fund manager established in Korea, managing 52.6 billion USD. KIM Vietnam Fund Management Company Limited is a company under Korea Investment Management (KIM).
KIM Vietnam currently operates trust funds from its parent company with a management scale of approximately US$1 billion.
Before the transaction at VTO, the group of members of KIM Vietnam Fund Management recorded buying shares and becoming major shareholders in a number of other listed enterprises such as Coteccons (Code: CTD), Long Hau (Code: LHG).
Of which, KIM Vietnam bought an additional 200,000 CTD shares on May 24, thereby increasing ownership to 5,51% and bought 100,000 LHG shares on July 17, increasing ownership to 6,13% of charter capital.
Source: CafeF
