Shares in Vietnam’s biggest conglomerate Vingroup fell for a fourth consecutive trading session on Monday, hitting 49,600 dong ($2.03) per share, the lowest level since November 2017.
Vingroup, once a real estate and retail conglomerate, has grown to become one of Vietnam’s biggest firms and is the parent of Nasdaq-listed electric vehicle maker VinFast with a market capitalisation of more than $7.8 billion.
Vingroup’s shares hit a one-year high last month following the stellar debut of VinFast on Wall Street. It has lost 34.5% since then, according to LSEG data.
The slump, according to a broker, was due to concern over Vingroup’s finances as the group has some obligations due next year, including around $1.2 billion bonds that mature in 2024.
The wider Vietnam Index rose 0.08% as of 0401 GMT, at 1,194
Reuters
