Revealing the “shark” who just spent trillions to buy VIB shares from the Australian Bank

The Pyn Elite Fund has purchased 54 million shares (1.8% of VIB’s equity) from the Commonwealth Bank of Australia (CBA). The transaction occurred amid CBA’s divestment due to directives from the Reserve Bank of Australia, with a total transaction value of 2,600 billion VND. CBA previously held 20% of VIB but retained only over 140 million shares (4.7%) after the divestment. Pyn spent approximately 1,100 billion VND to buy VIB shares, viewing it as a promising investment because VIB holds a significant share in retail lending and credit cards, with expected ROE dropping to 18% due to provisions. The fund is heavily invested in the banking sector and has observed favorable credit growth in Vietnam. They have met with several listed companies and noted positive improvements from banks. Despite a slowdown in investment performance early in 2024, Pyn remains confident in strong recovery due to economic growth.