A The gioi di dong mobile store in Ha Noi. The share value of the company has lost 27 per cent since late February. — VNS Photo Mai Huong As many stocks have plunged below their real value, foreign funds are combing Vietnamese shares, raising fears that Vietnamese companies will be acquired by ‘shark’ investors. Like many markets in the world hit hard by the COVID-19 pandemic, Vietnamese shares have lost about 20 per cent in value this year. Many stocks have seen their price hit historic lows, attracting large investment funds to buy shares in bulk. General Statistics Office data showed the value of foreign indirect investment, which includes capital contributions and equity purchases, in the first quarter of this year increased to 2,523 transactions worth a total US$2 billion, compared to 1,653 transactions in the same period last year. The value of capital contribution and share purchases of foreign investors in the first quarter of 2019 reached $5.69 billion but nearly 70 per cent of this value was the conversion of debt into equity of Beerco Limited (ThaiBev’s subsidiary in Hong Kong) to Vietnam Beverage Co Ltd. The strongest trade occurred in March – the peak of the… Read full this story
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