Ban Viet Securities Investment Fund Management Company (VCAM) announced that the transaction is expected to be executed via order matching from mid-this month.

Nguyen Thanh Phuong serves as Chairwoman of the Board of Directors at both VCAM and Vietcap Securities Company. She personally owns nearly 31 million shares, representing 2,67% of Vietcap's capital.

VCAM registered its divestment not long after announcing its first-half financial report, which revealed a post-tax loss of over 15 billion dong, nearly three times higher than the same period last year.

Established in 2006, VCAM currently manages three investment funds: Ban Viet Balanced Fund, Ban Viet Bond Fund, and Ban Viet Discovery Fund. The company holds total assets of 225 billion dong, with its investment in Vietcap having an original cost of nearly 15 billion dong.

Vietcap's market price this morning fell by over 2%, dropping below 21,000 dong. The stock has lost approximately 17% since the beginning of the year. Based on the current price, VCAM could generate over 12 billion dong if the divestment is successful.

Nguyen Thanh Phuong. Photo: Vietcap.

For Vietcap, the company recorded nearly 2,600 billion dong in revenue and over 590 billion dong in post-tax profit in the first half of the year, both showing double-digit growth compared to the same period. These results are still relatively far from its targets of 6,525 billion dong in revenue and 2,300 billion dong in pre-tax profit. This represents the highest plan in the company's nearly 20 years of operation.

Commenting on this year's stock market, Nguyen Thanh Phuong stated that investors are enthusiastically receiving macroeconomic growth information. She predicted that the stock market could maintain its growth momentum due to the economy's internal strength and the return of foreign capital as Vietnam is upgraded from a frontier to a secondary emerging market.

In march, Phuong stated that the determination to stabilize the macroeconomy and reduce corporate reliance on bank loans would create opportunities for capital markets (stocks, bonds) to develop. Additionally, efforts by regulatory bodies to upgrade the stock market, establish an international financial center, and concretize tax regulations for foreign investors will attract more foreign capital in the long term.

Phuong Dong