Private equity firm Texas Pacific Group has sold part of its stake in top Vietnam technology firm FPT but remains a key investor in the company, FPT's chief executive said on Friday.
TPG and Intel Capital, a unit of Intel Corp., paid $36.5 million for a combined 10 percent stake last year in FPT, Vietnam's second-largest listed firm.
"TPG had sold part of their shares but TPG and Intel will continue to be our strategic partners to help us expand globally," Truong Gia Binh said said in a live chat on Friday on e-newspaper VnExpress to clarify FPT's recent share price decline.
Shares in the Hanoi-based FPT have lost nearly 40 percent since they debuted on Ho Chi Minh Stock Exchange on Dec. 13 last year, to 245,000 dong ($15.20), valuing the company at $1.38 billion.
Source: Reuters
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