Funds linked to Bill Gates and Vietnam-focused asset manager Dragon Capital have become major shareholders in FPT Digital Retail JSC (HoSE: FRT), signaling rising foreign investor confidence in the company’s growth trajectory.
According to a filing with the Ho Chi Minh City Stock Exchange, a group of foreign investors, including Dragon Capital-managed funds and the Gates Foundation Trust, raised their combined stake above the 5% threshold following transactions earlier this week.

A Long Chau pharmacy and FPT Shop store. Photo courtesy of FPT Retail.
The group now holds approximately 8.53 million shares, equivalent to 5.01% of FPT Retail’s charter capital.
Among the buyers, Hanoi Investments Holdings Limited acquired 100,000 shares, Vietnam Enterprise Investments Limited purchased 80,000 shares, and Norges Bank added 30,000 shares.
The Gates Foundation Trust holds a relatively small stake of 66,087 shares, while the largest positions are concentrated in Hanoi Investments Holdings Limited (2.97 million shares), Vietnam Enterprise Investments Limited (2.17 million shares), and Amersham Industries Limited (1.7 million shares).
The move comes as FPT Retail, a subsidiary of FPT Corporation, outlines an ambitious expansion plan for 2026. The company targets net revenue of VND59.5 trillion ($2.26 billion) and pre-tax profit of VND1.55 trillion ($58.84 million), representing year-on-year increases of 16% and 27%, respectively.
A key strategic priority is diversification into new business lines, including drone-related services. The company is seeking shareholder approval to enter the distribution, leasing and pilot training of unmanned aerial vehicles, aiming to tap into Vietnam’s nascent low-altitude economy.
This expansion builds on strong momentum in 2025, when FPT Retail recorded consolidated revenue of VND51.08 trillion ($1.94 billion). Its pharmacy chain, Long Chau, remained the primary growth engine, contributing around 68% of total revenue, reflecting robust demand for healthcare retail services.
Meanwhile, its core electronics retail chain, FPT Shop, returned to profitability after a period of restructuring, supported by improved operational efficiency.
To support its growth plans, the company has proposed a 5% stock dividend for 2025, expected to be completed before the end of the third quarter of 2026.
The increased ownership by foreign institutional investors underscores growing confidence in FPT Retail’s transformation strategy, particularly its shift toward higher-margin segments such as pharmaceuticals and technology-driven services.


















