Hong Kong investors buy Vinacafe shares
(VOV) - The Hong Kong-based GaoLing Fund has bought a 24% share in Bien Hoa Vinacafe (VCF) for VND877.5 billion.
The shares were purchased from the Vietnam Coffee Corporation (Vinacafe), which now possesses 12.85% of VCF.
GaoLing is VCF’s second largest shareholder behind Masan Consumer‘s 53.2% ownership.
The GaoLing Fund remains focused on Asia and particularly Southeast Asia. Its total investments are worth around US$773 million.
VCF share prices fell from more than VND200,000 each in the middle of this year to their current VND137,000 per share.
Its third quarter profit reached VND62.45 billion, up 28% from last year’s same period.