Technip Energies (M) SDN. BHD, a foreign shareholder, has just reported to the Securities Commission the sale of all 2.5 million PVE shares of Petroleum Engineering Consulting Corporation - JSC (PV Engineering).
Foreign investors continuously net sell Vietnamese stocks - Photo: QUANG DINH
Recently, many foreign institutional investors have withdrawn capital from many Vietnamese enterprises. Net foreign selling value continued to be recorded in the first month of 2025, after a record year of withdrawal last year.
Business turmoil, foreign shareholders "run"
Technip Energies (M) SDN. BHD., a foreign shareholder, has just sent a report to the Securities Commission on the sale of all 2.5 million PVE shares of Petroleum Engineering Consulting Corporation - JSC (PV Engineering).
After the transaction, Technip Energies (M) SDN. BHD - an institutional investor from Malaysia, reduced its ownership in PV Engineering from 10% to 0%.
Notably, this shareholder withdrew from PV Engineering in the context of many changes in the company's leadership personnel.
According to the minutes sent to the Securities Commission, the Vietnam Oil and Gas Group (PetroVietnam) convened an extraordinary general meeting of shareholders. At the meeting, a series of personnel in the board of directors were dismissed.
Currently, PVN holds 29% of PVE's capital. Mr. Ta Duc Tien, PVN's capital representative at PVE, has just been appointed as Chairman of the Board of Directors of this enterprise.
In addition to Mr. Le Huu Bon being dismissed from the position of chairman, there are 3 other members of the Board of Directors and many members of the Board of Supervisors who are no longer in office since January 8.
In addition, the minutes of the extraordinary meeting also reported that a member of the PVE Board of Directors accepted responsibility for failing to fulfill his responsibilities and failing to direct the general director...
Regarding business performance, the financial report shows that in the first 6 months of 2024, PVE's revenue was recorded at nearly 82 billion VND, down nearly 40% compared to the same period last year. PVE's after-tax profit decreased by 24% to 921 million VND.
On the stock market, PVE shares are on warning and restricted trading. After a period of decline, the market price is now only 2,200 VND/share.
Many other businesses also recorded the withdrawal of foreign shareholders.
Also in early 2025, TAEL Two Partners investment fund notified the Securities Commission that it had sold all 5 million VNS shares of Vietnam Sun Joint Stock Company (Vinasun).
By reducing the ownership ratio to 0% after the transaction, foreign shareholders have officially withdrawn from Vietnam's largest taxi company after more than 11 years of capital investment.
Previously, according to the transaction registration, Tael Two Partners wanted to sell the above shares in the period from December 19, 2024 to January 17, 2025. However, as of January 6, this fund has completed the sale by agreement.
After 10 years of investment, Tael Two Partners may have received more than 140 billion VND in dividends from the Vietnamese taxi company. However, if calculated in terms of stock price, this foreign fund's investment is losing quite a lot. At the end of the session on January 7, each VNS share was only worth 10,400 VND.
TAEL Two Partners has also been divesting from VNS for nearly a year now, in the context of this taxi company's business facing many difficulties and its stock price going down.
Many large corporations in VN30 also recorded the sale of shares from foreign investors.
Last year, after selling 76 million MSN shares, SK Group's ownership ratio at Masan was only 3.67% of charter capital. At the same time, SK Group is no longer a major shareholder at Masan.
Recently, Vingroup (VIC) announced that SK Investment Vina II (under SK Group) has registered to sell more than 50.8 million shares by negotiation from January 16 to February 14. The purpose of the transaction is to restructure the investment portfolio.
If this transaction is successful, the Korean group will only hold more than 180.6 million shares. This means that its ownership ratio will also decrease from 6.05% to 4.72% of capital, meaning it is no longer a major shareholder.
Contrary to expectations of a return of foreign capital, 2024 was a record year of net selling by foreign investors of Vietnamese stocks.
Specifically, according to data from Fiintrade - Fiingroup's stock trading analysis platform, in 2024, foreign investors net sold a total of more than VND93,000 billion (USD3.7 billion) of Vietnamese stocks, of which net sales on HoSE were about VND90,000 billion, nearly 4 times higher than in 2023.
Thus, in the 5 years since the COVID-19 pandemic appeared, foreign investors have net sold a total of VND167,200 billion, nearly double the value of their net purchases in the previous 13 years (2007 - 2019). Notably, in January 2025, foreign investors continued to net sell Vietnamese stocks with a recorded value of nearly VND7,000 billion.
Source: https://tuoitre.vn/co-dong-nuoc-ngoai-ban-co-phieu-mot-cong-ty-cua-pvn-sach-von-ngoai-20250119211343733.htm
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