Monday, 19 Aug 2019

South Korea’s SK Group to invest US$1 billion in Vietnam’s Vingroup: Bloomberg

Updated at Friday, 22 Mar 2019, 12:31
The Hanoitimes - Recently, Vingroup has announced plan of issuing shares through private placement, aiming to raise at least VND25 trillion (US$1.1 billion).
South Korea’s conglomerate SK Group, through its investment arm SK South East Asia Investment, has decided to invest US$1 billion acquiring shares of Vietnam’s leading privately run conglomerate Vingroup, according to Bloomberg
Illustrative photo.
Illustrative photo.
Recently, Vingroup has announced a plan of issuing shares through private placement, aiming to raise at least VND25 trillion (US$1.1 billion). 

The group expected to offload 250 million shares or 7.8% of the share amount in circulation to a maximum of five foreign investors, and the price would be not less than VND100,000 (US$4.3) apiece. 

Of the total fund raised from the process, around VND10 trillion (US$430.44 million) would be utilized for debt restructuring, VND6 trillion (US$258.26 million) to invest in Vingroup’s subsidiaries, including VinFast, VinTech and Vinsmart, while Vingroup expected to allocate VND9 trillion (US$387.37 million) as short-term loan for business operations of the group and its subsidiaries. 

Vingroup’s shares are being traded at nearly VND120,000 (US$5.17) each, the highest since its first listing and 20% higher than the minimum offering price of the upcoming share issuance. 

As of March 22, Vingroup is Vietnam’s biggest public company with market capitalization of over VND377 trillion (US$16 billion). 

Last September, SK Group invested US$470 million to purchase 110 million treasury shares of Masan Group Corporation, equivalent to a 9.5% stake, thus becoming its largest foreign shareholder. 
Hai Yen
Print pageSend to friend Share on facebook  Share on twitterCommentView comment
The website need to upgrade?
Vivid Hanoi in celebration of 20th anniversary of "City for Peace" title
Thiết kế web: OnIP™