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]