Investment fund Dragon Capital to sell 4.76 percent stake in ACB

It will be done between March 10 and April 8 either by order matching or put-through orders, according to a statement from ACB.

With the share closing at VND32,450 ($1.41) on Friday, the transaction will be worth around VND3.25 trillion ($140.94 million).

Two funds, First Burns Investments Limited and Asia Reach Investments Limited, will sell off their 4.99 percent stake in the bank while a third, DC Developing Markets Strategies Public Limited Company, will buy 0.23 percent to increase its ownership to 0.36 percent.

Vietnam-focused Dragon Capital manages around $2.9 billion worth of assets.

ACB’s share price has surged 27 percent after the market fell at the end of January, establishing a new all-time high of VND33,250 on March 1.

The bank reported a 28 percent increase in post-tax profit last year to VND7.68 trillion.