Khang Dien House (KDH VN): VinaCapital wants to purchase more
VinaCapital Equity Opportunity Fund (VEOF), one of VinaCapital local (Vietnamese) funds has registered to buy 850,000 KDH VN shares for portfolio restructuring, effective from August 12th to September 10th. If successful, VEOF will have nearly 1.5 million KDH VN shares, equivalent to 0.13% ownership. Meanwhile, another fund managed by VinaCapital – Vietnam Opportunity Fund (VOF) - listed on the London Stock Exchange (VOF LN) is also the largest shareholder of the real estate developer with 13.9% interest, has taken no action yet. KDH VN closed at VND29,900 per share on 7th August 2025, therefore 42.5x P/E and 1.9x P/B.
An Gia Group (AGG VN): Bullish Q2
The real estate company reported revenue of VND194 billion (about USD7.4 million, up +15% YoY) in Q2 and net income of VND81 billion (about USD3.1 million, up +216% YoY), meaning that H1 performance already accounted for 48% and 27% of 2025 target revenue and profit. AGG VN closed at VND20,400 per share on 7th August 2025, thus 20.4x P/E and 1.0x P/B.
HAXACO (HAX VN): PYN Elite Fund decreased ownership
The Finnish institutional investor – PYN Elite Fund, sold 600,000 HAX VN shares on 25th July 2025, lowering ownership from 11.1% to 10.5%. Meanwhile, HAXACO announced its failed attempt to sell the land lot of 6,300 sqm, locating at Vo Van Kiet Street, HCMC, at the price of at least VND180 million per sqm via auction. Alongside with aforementioned events, 3 Board members had completed their sale of collectively 3.8 million HAX VN shares in July 2025. HAX VN closed at VND15,200 per share on 7th August 2025, hence 17.0x P/E and 1.5x P/B.
FPT Retail (FRT VN): Dragon Capital sold shares after the bonus issue
Funds managed by Dragon Capital completed a net sale of 95,000 FRT shares post the recent bonus issue, decreasing its ownership to under 5%, thus derecognizing its status as a major shareholder of FPT Retail. Totally, in just July, Dragon Capital sold nearly 2.5 million FRT VN shares. FRT VN closed at VND152,000/s on August 7 2025, thus a 48.1x P/E and 9.0x P/B.
Nafoods Group (NAF VN): Q2 results reached record high
NAF reported Q2 revenue of VND680 billion (about USD26.1 million, up +54.2% YoY) and net income of VND59 billion (~USD2.25 million, up +14.7% YoY). At H1, NAF completed the deal with ResponsAbility Investments AG (RIAG), a Swiss private creditor, borrowing USD$6 million secured by collateral. Also, Nafoods started the construction phase of Nasoco factory (2nd phase), increasing production of condensed juice, puree, IQF, etc. NAF VN closed at VND28,250/ share on 7th August 2025, thus 14.2x P/E and 1.5x P/B.
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