VNDirect Securities Joint Stock Company (VND) purchased over 2.86 million shares of Post and Telecommunications Insurance Joint Stock Company (PTI) from December 4 to 8, reported the Hà Nội Stock Exchange (HNX) on Monday.

 

With the transaction, VND increased its ownership in PTI from 13.2 million shares to 16.08 million shares, representing an increase from 16.44 per cent to 20 per cent and becoming the second-largest shareholder of the insurance company, after Dongbu Insurance Company Limited (holding 30 million shares, equivalent to 37.32 per cent of capital).

 

During the December 8 session, PTI shares recorded a put-through transaction matching the amount announced by VNDirect, with a total transaction value of over VNĐ176 billion (US$7.2 million), corresponding to an average purchase price of VNĐ61,500 per share.

 

However, by the end of the December 8 session, the stock price had fallen to only VNĐ52,000 per share. Therefore, the price paid by VNDirect was 18 per cent higher than the market price of PTI shares traded on the exchange.

 

Currently, PTI shares are traded at around VNĐ48,000 per unit. Thus, after about a week of buying, VNDirect's investment has incurred a loss of nearly 22 per cent.

 

Regarding business activities, in the first nine months of this year, PTI recorded a revenue of VNĐ3.7 trillion, a 3 per cent decrease compared to the same period last year. Meanwhile, the profit after tax surged to over VNĐ124 billion, whereas in the same period last year, the company incurred a loss of nearly VNĐ348 billion. —  VNS