Vietnam Enterprise Inves... Share Discussion Threads

[arja] 14/1/2021 18:07

wonder why VOL has not moved much today but this stock has taken off . maybe this stock HAD a wider discount to NAV.

[chester] 14/1/2021 15:58

Nice move today. jonwig - What are the main differences between VOF and VEIL ?

[johnwig] 13/1/2021 13:16

I've got to say I'm pretty chuffed having almost doubled my money in about 9 months. Same goes for VOF as well. I don't see any real reason to feel antsy at present, but I never make predictions: the money should speak for itself...

[hydrogen economy] 13/1/2021 12:05

Still no interest here, despite plenty of capital gain.

NAV has risen strongly, discount has increased to 11% compared with VOF at ~7%. I expect market will narrow that gap.

Plenty of positives for the Vn market, discussed at length on VOF board and generally also apply to VEIL. Timing on vaccine will be important, especially for Foreign tourism but VN doing as well as any in managing the situation and quickly containing occasional outbreaks (usually due to illegal cross border travel or quarantine breaches).

Happy to be holding here, despite being apparently self-isolated.

[hydrogen economy] 23/4/2020 13:36

Seems theres not much interest here, maybe this will help

Vietnam Banks were being talked up today on CNBC by JP Morgan, preferred to any other banks in region due to strong clean-up of banks, strong profitability and Vietnam's early emergence from COVID lockdown. (That's not something I would have expected to hear a few years back!).

Foreign ownership still holds back valuations but expect this to be relaxed leading to re-rate.

VEIL have 4 Banks in the top 10 holdings and 25.7% of total holding.
VOF Only Eximbank in top 10.



Encouraging to see the COVID relaxation being flagged as a positive for the economy on CNBC.

[lord mandelbaum] 20/9/2019 09:08

Looks like it.. I had a nice run from 435 and sold at 480 when the Vietnam stock market looked like it was having a breather, will try to buy in again as VEIL is clearly one for the long term, good luck all

[saucepan] 19/9/2019 11:57

Breaking out of more than eighteen months consolidation below £5?

[lord mandelbaum] 26/6/2019 13:55

A 954k shares/£4m buy just happened. Not an every day occurance to say the least

[hydrogen economy] 25/6/2019 12:35

CNBC doing a series of specials in Vietnam this week, focusing on supply chain shifting there from China, looking at the industries affected etc. All sounds very positive about prospects for the country and may well encourage more investors to Vn stocks which will be good for VEIL and VOF which have been pretty static of late, not working yet today, both well down!.

[andyj] 08/4/2019 10:11

The difficulty is always choosing the right companies at the right time and price that will benefit from the undoubted growth prospects of the country. Vinamilk, down 30%, was always a strange choice to me. As the Vietnamese grow wealthier it is more likely they will buy the more expensive foreign imports that they could not previously afford. Khang Dien House was a reliable investment as the construction here shows no sign of slowing. They and we are fairly reliant on the potential of an MSCI inclusion for a rerating here after a disappointing twelve months and a divergence from the global equity bounce since January. I continue to hold, for the moment, but I will be analysing their stock picks with greater scrutiny.

[cfro] 08/4/2019 08:29

From the outlook statement:

After a difficult 2018, most market participants have a cautious view of 2019. However, as we believe Vietnam's strong economic fundamentals and macro story are still largely intact, having already corrected to just 12.x times forward 2019's PER, there is a strong case for the stock market to find its footing in the year ahead. Additionally, the Government has reiterated its commitment to continue focusing on the long-term development of the financial market. The long-awaited covered warrant is due to be launched in 2019 whilst instructions have been issued to several major state-owned enterprises ("SOEs") to restructure their organisations in preparation for IPO. There is still an ample pipeline of private company IPOs and SOE privatisations however, heightened market volatility had halted this for much of the second half of 2018. As such, we believe that we are likely to see some of these opportunities returning to the market.

Within this market landscape we believe stock-picking, one of VEIL's unique strengths, will become more important than ever as the market becomes more diverged between the fundamentally good stocks and trading stocks. At the same time, we will continue to be active in screening for both IPO and SOE privatisation opportunities that can offer long-term growth at reasonable valuations. Finally, and as always, we remain committed to assisting our investees in unlocking value for the benefit of shareholders.

[cfro] 08/4/2019 08:28

Taken from today's report:

With our domestic market's valuation having experienced its recent correction to a more reasonable level, we are confident of our ability to execute on the strong long-term buying opportunity that has been created. With our top 60 companies expect to deliver 10.1% EPS growth of 12.9x forward earnings in 2019, below regional peers such as Thailand, the Philippines, Malaysia and Indonesia, we are able to offer investors good downside protection amidst sensitive global macro factors, all of which is underpinned by our unique expertise that will to allow us to unlock value for the benefit of shareholders.

[interceptor2] 12/3/2019 08:01

City of London Investment group picked up 10% of the shares Last Thursday, RNS released during the day yesterday so like me other could have been missed it.

[cfro] 08/3/2019 10:50

NAV - 518p

[interceptor2] 08/3/2019 08:08

I also took advantage yesterday with initial position, the fall should give a good risk/reward entry price with strong support at 390p only 10% lower.

[cfro] 07/3/2019 13:34

A few of us taking advantage today..

That has to be a fund in distress imo, otherwise why accept such a large discount to NAV.

[mad foetus] 07/3/2019 09:19

I bought at 426. Assume the seller had liquidity problems and this creates a short term opportunity to buy a very good long term investment at an absurd discount

[melody9999] 07/3/2019 09:11

Agreed amt and suspect that the share price will recover over the next days / weeks. I've taken the opportunity to join you so lets hope so.

[hydrogen economy] 07/3/2019 09:10

Unclear why APG sold, and more specifically why they did it in one hit in a way which guaranteed value realized would be well down on prevailing market price. As you note, this does not affect NAV which was at 522p last night, so put discount at 20%. have topped up as I can't see that being the case for very long.

dyor

[amt] 07/3/2019 08:35

What the hell is going on here. Should reflect underlying assets? So why the huge discount

[hydrogen economy] 07/3/2019 08:10

Well this livened things up, not in a good way, knocking 8%+ off the SP!



PRESS RELEASE


07 March 2019



Accelerated bookbuild offering of approx. 37 million existing shares in Vietnam Enterprise Investments Ltd



Further to the announcement released on 6 March 2019, Jefferies International Limited ("Jefferies") announces that funds managed and advised by APG Asset Management NV (the "APG Funds") have sold 37,028,177 existing ordinary shares in Vietnam Enterprise Investments Ltd ("VEIL"), representing 16.9% of VEIL's issued share capital, to institutional investors pursuant to an accelerated bookbuild process at a price of 415.5p per share (the "Transaction"). Jefferies acted as sole global coordinator and bookrunner on the Transaction.



Proceeds from the Transaction are payable in cash and closing of the Transaction will occur on a T+3 basis on 12 March 2019.



Following the closing of the Transaction, the APG Funds will no longer own shares in VEIL. VEIL will not receive any proceeds from the Transaction.

[andyj] 07/2/2019 01:33

These have become incredibly dull over the past six months!

[corguv] 03/8/2018 09:37

Veil looking cheap on basis of Vietnam
continuig strong trend so joined you here
with a small holding.

[sogoesit] 21/6/2018 07:13

Discount to NAV widened to 18%
Good time to pick-up.

[andyj] 29/5/2018 10:35

Added small amount at 4.41