Illustrative image (Photo: KSB) Hanoi (VNS/VNA) - Finland-basedEvli Emerging Frontier Fund announced on September 16 that it purchasedmore 500,000 shares of Binh Duong Mineral and Construction Joint Stock Company(KSB) early this month.
After the purchase, the Finnish fund hasbecome one of KSB’s major shareholders with 2.5 million shares, equivalent to5.43 percent of the company’s capital.
The fund is owned by Evli Fund ManagementCompany, a Nordic fund management company founded in 1985. This fund managementcompany is fully owned by Evli Bank, a Finnish bank which manages assets of12.2 billion euros.
Evli Emerging Frontier was introduced inOctober 2013, focusing on investing in fast-growing economies. As of the end ofAugust, the fund's portfolio size topped 61 million euros.
Vietnam is the third-largest market in itsportfolio with 18 percent of the proportion.
KSB specialises in mining, quarrying, and oiland gas extraction, besides nonmetallic mineral mining and quarrying. Thecompany reported revenue up 18 percent to 694 billion VND (29.8 million USD) inthe first half of this year and post-tax profit increased 4 percent to 159billion VND.
Its Tan Dong Hiep quarry, which contributedthe largest proportion of 30 percent of revenue in 2019, will expire at the endof this year. The company plans to increase the exploitation capacity ofquarries of Phuoc Vinh, Tan My and Thang Long.
KSB hopes to expand Phuoc Vinh mine and toinvest in a building materials company in the southern province of Dong Nai.The exploitation scale of this company remains at 250 million tonnes of stone,many times higher than KSB's current scale.
KSB shares are now traded at around 30,600VND per share on the stock market, doubling from April. Temporarilycalculated at this price, the number of KSB shares held by Evli Emerging Frontierhas a market value of 77 billion VND./.
After the purchase, the Finnish fund hasbecome one of KSB’s major shareholders with 2.5 million shares, equivalent to5.43 percent of the company’s capital.
The fund is owned by Evli Fund ManagementCompany, a Nordic fund management company founded in 1985. This fund managementcompany is fully owned by Evli Bank, a Finnish bank which manages assets of12.2 billion euros.
Evli Emerging Frontier was introduced inOctober 2013, focusing on investing in fast-growing economies. As of the end ofAugust, the fund's portfolio size topped 61 million euros.
Vietnam is the third-largest market in itsportfolio with 18 percent of the proportion.
KSB specialises in mining, quarrying, and oiland gas extraction, besides nonmetallic mineral mining and quarrying. Thecompany reported revenue up 18 percent to 694 billion VND (29.8 million USD) inthe first half of this year and post-tax profit increased 4 percent to 159billion VND.
Its Tan Dong Hiep quarry, which contributedthe largest proportion of 30 percent of revenue in 2019, will expire at the endof this year. The company plans to increase the exploitation capacity ofquarries of Phuoc Vinh, Tan My and Thang Long.
KSB hopes to expand Phuoc Vinh mine and toinvest in a building materials company in the southern province of Dong Nai.The exploitation scale of this company remains at 250 million tonnes of stone,many times higher than KSB's current scale.
KSB shares are now traded at around 30,600VND per share on the stock market, doubling from April. Temporarilycalculated at this price, the number of KSB shares held by Evli Emerging Frontierhas a market value of 77 billion VND./.
VNA
