Real estate stocks recovered from the bottom, Dragon Capital net bought KBC, GEX and returned to the role of major shareholder

Dragon Capital became a major shareholder in GELEX with the ownership of 45.49 million shares (5.34%).

The fund group under Dragon Capital has just announced that it has bought a total of nearly 5.2 million GEX from GELEX Group Joint Stock Company in the session on November 29.

After the transaction, the ownership ratio of the whole group increased from 4.74% (40.34 million shares) to 5.34% (45.49 million shares) and officially became a major shareholder in GELEX . Temporarily calculated according to the GEX market closing price on the same day of the transaction, the amount Dragon Capital can spend is about 76 billion dong.

On the same day, the group of foreign funds also reported the transaction of adding nearly 3.7 million KBC shares of Kinh Bac Urban Development Corporation- JSC. Currently, Dragon Capital’s ownership rate in KBC has increased from 5.57% (42.77 million shares) to 6.48% (46.43 million shares). Temporarily based on the closing price of the same session, the fund group spent about 74 billion dong to complete this transaction.

Dragon Capital’s move took place in the context that GEX and KBC stocks had just recovered well from the bottom. However, compared to the time of peaking at the beginning of this year, the market price of these two stocks has “evaporated” 60-70%.

Recently, Dragon Capital group has continuously made strong moves to buy a series of stocks such as KDH, HDG, DGC, DPM, DCM, FRT, PVD, VHC,… in which the billion USD fund VEIL is a member. Members are the most active when buying many stocks with large volume from millions to tens of millions of shares.

Explaining about the recent frequent surfing, Dragon Capital’s expert said, in the portfolio there will be stocks with long-term goals and also stocks with shorter-term goals. In contrast, the fund’s portfolio has investments that are cyclical in nature and need to be weighed down at the end of the growth cycle. The fund “trading” often because it needs to change its strategy when there are influencing factors.

Last time, Dragon Capital defended quite well with a high amount of cash. This is also an advantage to help the fund better grasp opportunities when the market enters a new up cycle. “When the market meets all 5 criteria (1) interest rate stops increasing (2) exchange rate shows signs of stability (3) liquidity does not deteriorate (4) the government discusses solutions to support organizations at risk. In case of bankruptcy (5), expect profits to weaken to establish the bottom, Dragon Capital will disburse very aggressively” – emphasized the expert.

Phuong Linh/Market Lifestyle