Dragon Capital raises stake in Hoa Phat Group – VnExpress International


By Dat Nguyen  &nbspApril 10, 2021 | 03:01 pm GMT+7
Dragon Capital raises stake in Hoa Phat Group  Dragon Capital raises stake in Hoa Phat Group - VnExpress International WEB669e88dd072ff471ad3e1615432 8293 8463 1618030914

Hoa Phat steel products seen in a factory. Photo courtesy of Hoa Phat Group.


Investment fund Dragon Capital has bought over 1.2 million shares of steelmaker Hoa Phat Group to take its ownership of the company from 5.99 percent to 6.03 percent.

It bought them on the market on April 6 when HPG was trading at around VND49,400, which puts the value of the deal at around VND59 billion ($2.56 million).

The Vietnam-focused Dragon Capital manages around $2.9 billion worth of assets.

Hoa Phat is set to build a second steel production complex in Dung Quat in the central province of Quang Ngai starting in January 2022, and it will go on stream three years later, which could boost its annual and profits by as much as 80 percent.

The plant, to cost VND62 trillion ($2.7 billion), will be able to produce 5.6 million tons of steel a year.

Hoa Phat targets 33 percent growth in revenues and post-tax profits this year to VND120 trillion and VND18 trillion.

e.VnExpress

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Dragon Capital raises stake in Hoa Phat Group – VnExpress International

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