|Realty company Hà Đô Group’s condotel project. — Photo courtesy of Hà Đô Group
HÀ NỘI — Two member funds of Dragon Capital have recently acquired an additional 270,000 shares of realty company Hà Đô Group Joint Stock Company (HDG), increasing their ownership from 12.94 per cent to 13.03 per cent.
Specifically, Norges Bank Fund purchased 220,000 shares, while KB Việt Nam Focus Balanced Fund bought 50,000 shares. This transaction resulted in an ownership ratio increase of 3.32 per cent and 0.1 per cent, respectively. The transaction took place on December 7, 2023.
At the corresponding closing price of VNĐ29,000 per share, the acquired shares are valued at approximately VNĐ8 billion.
It is worth noting that this is the second time in 2023 that the Dragon Capital fund group has increased its ownership in Hà Đô Group. Previously, on June 29, CTBC Việt Nam Equity Fund also purchased an additional 200,000 HDG shares.
Hà Đô Group’s business performance appears challenging as it experienced a decline in the third quarter.
In Q3 2023, the company recorded revenue of VNĐ459.56 billion, a decrease of 45.1 per cent compared to the same period last year. Profit after tax stood at VNĐ99.55 billion, down 67.9 per cent. The gross profit margin also declined from 60.5 per cent to 53.3 per cent.
Despite cost reductions in financial, sales, and corporate management areas, the sharp decline in gross profit contributed to the significant decrease in profit after tax during the period.
For the first nine months of 2023, Hà Đô Group’s accumulated revenue reached VNĐ2 trillion, a decrease of 19 per cent compared to the same period last year. Profit after tax amounted to VNĐ533.32 billion, down 48.7 per cent.
As of September 30, 2023, the company’s total assets had decreased by 3.8 per cent, equivalent to a decrease of VNĐ576.1 billion, reaching VNĐ14.5 trillion compared to the beginning of the year. — VNS
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