A Vietjet airplane. The aviation firm shares have dropped 24.5 per cent to end Thursday at VND139,500 per share from its peak of VND184,840 per share in early April 2018. — Photo vietnamnet.vn VinaCapital’s Vietnam Opportunity Fund (VOF) has sold its entire holding in Vietjet Aviation JSC (HoSE: VJC). VOF said in its August report that it sees the risk and reward to be balanced given the company’s (Vietjet) valuation and growth prospects. Vietjet made its IPO in December 2016 by selling 44.8 million shares to institutional investors at VND84,400 (US$3.63) per share. The total value of the deal was VND3.78 trillion ($162.5 million). The company then started listing its 300 million shares on the Ho Chi Minh Stock Exchange on February 28, 2017 at VND90,000 per share. The volume of listing now is 541.6 million shares, of which 523.8 million shares are outstanding. Vietjet shares reached the highest price of VND184,840 per share on April 2, 2018 – only a week before … [Read more...] about Vietnam Opportunity Fund completely exits Vietjet
Vietnam investment fund
Foreign investment funds optimistic about startup potential
VietNamNet Bridge - Vietnam has no startups with value of $1 billion and higher (called unicorns), but foreign investment funds are optimistic about the future. Last year, Lee Jea Woong came to Vietnam seven times. He was one of three founders of Daum Communications, now Kakao. In 2016, he left the company and set up a venture fund and two startup incubators. He is now CEO of Socar. Daum, established in 1995, is now valued at $10 billion, with 4,000 workers, several dollar billionaires and many millionaires. Lee said Vietnam now has favorable conditions to produce unicorns, like South Korea of 20 years ago. “It’s time for Vietnam unicorns to turn up,” he said at the Forbes Vietnam Tech Summit 2019 on March 14. South Korea underwent industrialization in the 1960s, developed an IT industry in 2000s and is now entering the 4.0 industrial era. All three stages are occurring in Vietnam at the same time, which is a chance for Vietnam to make a jump in development. In … [Read more...] about Foreign investment funds optimistic about startup potential
Tough year predicted by investment funds as VN Index falls
VietNamNet Bridge - Big challenges for the stock market may occur in 2019, according to investment fund management companies. The Swedish Tundra Vietnam Fund likened Vietnam’s stock market in 2018 to a roller coaster. In the first half of the year, the market performed well with the VN Index hitting the peak of 1,205 points in mid-April 2018. Meanwhile, in the second half, it fell to 892 points. The index decreased by 9.4 percent in 2018. Even the two largest funds in Vietnam, which are managing billions of dollars worth of capital, namely VinaCapital Vietnam Opportunity Fund (VOF) managed by VinaCapital, and Vietnam Enterprise Investments Ltd (VEIL) of Dragon Capital, reported NAV decreases of 9 percent and 7.1 percent, respectively. Foreign investment funds such as Dragon Capital, VinaCapital, Vietnam Holdings Ltd, Pyn Elite Fund, and Tundra Vietnam Fund also reported the same problem. RELATED NEWS Foreign investment funds target market for mothers and kids Investment … [Read more...] about Tough year predicted by investment funds as VN Index falls
Singaporean investment fund lifts holding in Vietnam’s Masan Group
The Hanoitimes - The deal is reportedly worth VND2.27 trillion (US$101 million), for which Arnolis Investment will hold an 8.87% stake of Masan Group, or an equivalent of 103.15 million shares, according to the Ho Chi Minh Stock Exchange (HoSE). Arnolis Investment Pte, a Singaporean government-run investment fund, has bought an additional of 27.41 million shares of Masan Group, one of Vietnam’s largest privately-run conglomerates, thus becoming its second largest foreign shareholder after South Korea’s SK Group. Illustrative photo. The deal is reportedly worth VND2.27 trillion (US$101 million), for which Arnolis Investment will hold an 8.87% stake of Masan Group, or equivalent to 103.15 million shares. In October, Singapore’s sovereign wealth fund bought roughly half of US-based KKR & Co.’s 4.7% stake in Masan worth VND2.18 trillion (US$95 million). It purchased the stock as part of a placement by KKR, which offloaded its … [Read more...] about Singaporean investment fund lifts holding in Vietnam’s Masan Group
Norway’s sovereign wealth fund urged to expand Vietnam investment portfolio
The Hanoitimes - The US$1-trillion fund, the biggest state fund in the world, has invested in major Vietnamese corporations, including Vinamilk, Military Bank, Hoa Phat Group. At the meeting with the Norwegian Business Association (NBA) and the Government Pension Fund of Norway, Vietnamese Deputy Prime Minister Trinh Dinh Dung requested them to explore investment opportunities in Vietnam, the government portal reported. Deputy Prime Minister Trinh Dinh Dung and Norwegian Minister of Trade and Industry Torbjørn Røe Isaksen. Source: VGP. The US$1-trillion fund, the biggest state fund in the world, has been investing in major Vietnamese corporations, including Vinamilk, Military Bank, Hoa Phat Group, according to a representative of the NBA. The NBA highly valued the cooperation potential with Vietnam, adding that the country is among its priority list of emerging markets for investment. The representative expected Vietnam to continue its reform … [Read more...] about Norway’s sovereign wealth fund urged to expand Vietnam investment portfolio