PYN Elite agreed in November to acquire a 12% stake in a technology company DNSE. This transaction has now been completed. The final regulatory statement required to complete the transaction was received on Friday, January 26, 2024. The shares have now been booked in PYN Elite’s portfolio.
The public offering of DNSE was fully subscribed on January 24, 2024. In PYN Elite’s portfolio, the shares of DNSE were booked at the IPO price, which alone led to a 1.8% gain in the fund’s NAV on Friday.
DNSE is a pioneer in digital stock trading in Vietnam. It has reached good profitability already. The company aims for strong growth on its trading platform in the coming years.
In 2023, the number of DNSE’s customers increased from 190,000 to 561,000 and the target for 2024 is 2 million customers.
Important information regarding the text and the Fund
The attached publication is marketing material and should not be regarded as a recommendation to subscribe or redeem units of the PYN Elite Fund. Before subscribing please familiarize yourself with the Key Information Document, the Prospectus and the Rules of the Fund. The material presented in this text is based on PYN Fund Management’s view of markets and investment opportunities. PYN Elite Fund (non-UCITS) invests its assets in a highly allocated manner in frontier markets and in a small number of companies. This investment approach involves a larger risk of volatility compared to ordinary broadly diversified equity investments. The value of an investment may decline substantially in unfavorable market conditions or due to an individual unsuccessful investment. It is entirely possible that the estimates of economic development or a company’s business performance presented in this presentation will not be realized as presented and they involve material uncertainties.