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Dragon Capital Expands Investments Amid Growing Demand

2024-10-09 01:50:31.733000

On October 2, 2024, Dragon Capital made significant moves in the Vietnamese market by acquiring over 1.1 million shares of Phú Nhuận Jewellery (PNJ), increasing its ownership stake to 6.2%. This investment is valued at approximately VNĐ109 billion (US$4.4 million) and aligns with the Winter-Spring season, a period traditionally marked by heightened jewellery demand. In addition, Dragon Capital has increased its stake in FPT Digital Retail (FRT) to 13.03% after acquiring 105,000 shares. FPT Digital Retail reported a robust 22.5% revenue increase in the first half of 2024, reaching over VNĐ18.2 trillion. [b622be99]

Furthermore, Dragon Capital reinstated its position as a significant shareholder in PV Drilling (PVD) with a 5.22% stake after acquiring 1.2 million shares on September 30, 2024. This move comes after the firm had previously reduced its stake to 4.92% by selling 500,000 shares in September. The retail jewellery sector in Vietnam is projected to grow by 10.5% annually from 2024 to 2028, contingent on securing a stable gold supply. [b622be99]

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