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CTD shares fell sharply after a group of funds managed by KIM Vietnam sold nearly 1 million CTD shares, reducing the Korean foreign fund’s ownership below 5% and officially ending its status as a large shareholder of Coteccons.
KIM Vietnam Asset Management Co., Ltd., an entity under Korea Investment Management (KIM), announced that four funds sold a total of 950,000 CTD shares of Coteccons Construction Joint Stock Company in the May 8 trading session.
Breakdown of the sales included:
After the transaction, the KIM Vietnam group’s ownership declined from 5.03% to 4.13%, equivalent to more than 4.4 million shares. This change officially removed Coteccons from the group’s list of large shareholders.
Previously, the Korean foreign funds group became Coteccons’ large shareholder on May 28, 2024 after purchasing an additional 200,000 CTD shares, lifting total ownership to 5.05%.
The divestment took place as CTD’s stock price had been under persistent selling pressure. In the four trading sessions from May 7–12, 2026, CTD’s price fell nearly 15%, erasing about 1.4 trillion VND in market capitalization and bringing it to around 7.9 trillion VND.
On May 7, one day before KIM Vietnam’s sale, CTD hit the floor with liquidity surging to over 2.7 million shares—nearly four times the May 6 level and the highest since mid-November 2025.
On May 8, CTD continued to decline by 4.7%, closing at 76,800 VND per share. Trading volume was nearly 5 million shares, the highest since March 2024. Based on this price, the Korean foreign funds group is estimated to have earned nearly 73 billion VND from the divestment.
The sharp correction occurred not long after Coteccons announced on May 5 that it had received Decision No. 1178/2026/QDST-KDTM dated 21/04/2026 from the People’s Court of District 5 in Ho Chi Minh City. The decision relates to recognizing settlements in business and commercial case No. 1422/2024/TLST-KDTM filed in July 2024. Coteccons did not disclose details of the case.
In the afternoon session of May 13, CTD’s stock recovered modestly to around 74,200 VND per share after four consecutive sessions of declines. Still, the price was up 3% year-to-date, with average liquidity near 940,000 shares per session.
On business performance, CTD closed the third quarter of its 2026 fiscal year with net revenue of over 6,409 billion VND, up 28% year-on-year. Net profit was about 119 billion VND, up 2.1 times.
For the first nine months of fiscal year 2026, net revenue reached 23,868 billion VND, up 43%, while net profit was near 642 billion VND, up 2.5 times year-on-year. Compared with the annual plan, CTD achieved 80% of revenue and 92% of profit.
CTD also reported continued backlog growth: in Q3 FY2026, the value of bids won reached 48 trillion VND, lifting backlog to a record near 65.5 trillion VND.
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