Foreign investors increase purchases of SBT shares, focusing on ESG criteria

A foreign investment fund based in Singapore has just purchased a total of 60,800,000 SBT shares, raising its total ownership ratio to 116,310,033 shares, equivalent to 15.71% of the voting ratio.

Foreign shareholders continue to increase their ownership of SBT shares of Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, HOSE: SBT) to affirm a strategic step in the cooperative relationship with TTC AgriS, aiming to build a "green" business strategy and sustainable development.

Specifically, on July 25, 2024, Legendary Venture Fund 1 (Legendary), a foreign investment fund headquartered in Singapore, reported that it had purchased a total of 60,800,000 SBT shares, equivalent to 8.21% of the voting ratio, bringing the total ownership ratio to 116,310,033 shares, equivalent to 15.71% of the voting ratio. Previously, this Fund owned more than 55.5 million shares, equivalent to 7.5% of the voting ratio.

Legendary Fund specializes in investing in potential businesses in Asia. This fund identifies investment opportunities through assessing the intrinsic value and sustainable development strategy of the business. The fund prioritizes large-cap listed companies with sustainable business growth, especially those with development strategies focusing on Environmental, Social Responsibility and Governance (ESG). This fund had a long time negotiating and working with TTC AgriS before deciding to choose TTC AgriS as an investment destination.

Recently, the stock market has continuously witnessed a strong net selling trend of foreign investors. As of the end of the trading session on July 4, 2024, foreign investors have been net sellers for 20 consecutive sessions, with a total net selling value of over VND 52 trillion (USD 2 billion) since the beginning of the year. In the first half of 2024, foreign investors net sold 2.26 times more than the whole year of 2023 and approximately 87% of the record net selling value set in 2021.

In contrast to the above developments, foreign investors have continuously invested and increased their ownership of SBT shares. According to statistics, as of July 23, the foreign ownership ratio at SBT has continuously recorded growth, up to 21%, an increase of 73% compared to the beginning of the year.

New Chairwoman of the Board of Directors, Ms. Dang Huynh Uc My, continuously establishes strategic relationships for TTC AgriS on governance and "green" capital, aiming for the target of 60,000 billion VND by 2030.

Recently, SBT has often been in the top of stocks with the most net purchases by foreign investors, along with MWG, PVS, MBB and HPG. This shows that the trend of foreign capital flows is now more cautious and selective, focusing on sustainable development stocks that meet ESG standards.

Recently, FPTS Securities Company has just issued a report recommending Buy for SBT stock, they expect the short-term price increase channel to continue to expand and the expected profit is 24%.

Sharing about the foreign fund's continuous increase in ownership in SBT, the new Chairwoman of TTC AgriS Board of Directors - Ms. Dang Huynh Uc My shared: "With the current global economic trend, TTC AgriS is ready to cooperate with foreign investors who share the same vision, business strategy and especially experience in the ESG field. We believe that the companionship of foreign partners will help TTC AgriS expand its scale of operations and enhance its competitiveness in the international market. This is also an important step, marking our commitment to bringing sustainable value to shareholders and actively contributing to the development of Vietnam's agricultural sector".

In fact, TTC AgriS has always been one of the pioneering enterprises in Vietnam in upgrading and standardizing the corporate governance system on the basis of sustainable development, applying ESG standards to all management - production - business activities. During more than half a century of operation, the "green" business strategy and sustainable development have always been the "compass" of the Company. This is considered a plus point to attract green capital from foreign investors looking for investment opportunities in Vietnam.

TTC AgriS's extensive cooperation with a foreign investor who shares the same vision, business strategy and especially experience in the ESG field is also part of the Board of Directors' development strategy to enhance TTC AgriS's position, helping the company expand its operations and improve its competitiveness in the international market.

In recent years, TTC AgriS has continuously received high appreciation from prestigious organizations for its governance activities such as: Top 20 Listed Enterprises in the VNSI20 Sustainable Development Index - HOSE, Top 10 Enterprises with the Best Corporate Governance in 2023 Large-Cap Group - HOSE, Top 10 Enterprises with Sustainable Green Economic Development, Top 5 Board of Directors of the Year - VIOD. On June 25, 2024, TTC AgriS was honored by the world's leading prestigious magazine Fortune (USA) in the Fortune 500 Southeast Asia 2024 list.

Source: https://baodautu.vn/nha-dau-tu-nuoc-ngoai-day-manh-mua-vao-co-phieu-sbt-tap-trung-vao-tieu-chi-esg-d220927.html