Monday, 19 Aug 2019
|
|
|
|
INVESTMENT

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
Others:
The website need to upgrade?
Interface
Content
Vivid Hanoi in celebration of 20th anniversary of "City for Peace" title
Thiết kế web: OnIP™