Pyn Elite increases holdings in a series of companies

Business News

Pyn Elite increases holdings in a series of companies

Tuesday, February 13,2018

AsemconnectVietnam - Pyn Elite Fund (Non-Ucits) has announced increasing its holdings in a series of companies where it still holds a partial stake, namely JVC, HBC, CMG, VCG, and CII.

Notably, on February 5-6, Pyn Elite announced completing the purchase of 924,130 shares in Japan Vietnam Medical Instrument JSC (JVC) and one million shares in Hoa Binh Corporation (HBC) to increase its holding in JVC to 12.38 million (11 per cent) and 22.4 million (17.25 per cent) in HBC, respectively.

Besides, it acquired an additional 347,580 shares in CMC Corporation to increase its holdings to 3.69 million or 5.48 per cent.

On the same day on February 6, Pyn Elite announced buying 1.38 million more shares in Vietnam Construction and Import-Export Joint Stock Corporation (VCG), a subsidiary of Vinaconex to increase its holding in VCG to 23.24 million shares or 5.26 per cent.

Besides, Pyn Elite bought two million shares in Ho Chi Minh Infrastructure Investment JSC (CII) to increase its holding to 27.4 million shares or 11.13 per cent.

According to the shares values of VCG and CII on the stock exchange, Pyn Elite poured VND69 billion ($3.04 million) into CII and VND32 billion ($1.41 million) into VCG, as well as VND64.9 billion into the three other purchase deals.

Previously, in December 2017, PYN Elite Fund signed an agreement to purchase a 4.99 per cent stake in Tien Phong Commercial Joint Stock Bank (TPBank) for $40 million, marking its first investment in the banking sector. This investment was one of the fund's three largest investments.

Entering Vietnam in 2013, PYN Elite is the third largest foreign-investment fund in the country with a total investment capital of $491.4 million. At present, PYN Elite owns stakes in numerous large-scale domestic enterprises.

Source: Vov.vn

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