News

Vietnamese people spend around US$3 billion on overseas education annually.

Upon completion of the proposed acquisition, Vietnam Securities Corporation (VSEC) will become a wholly-owned subsidiary of RHB Investment Bank.

PHI Group will form a wholly-owned subsidiary as the special purpose vehicle to hold the majority interest in Saigon Pho Palace and take this subsidiary public in the US Stock Market in the future to create a platform for Saigon Pho Palace`s growth and expansion.

Vietcombank is expected to offer the remaining shares amount on the stock market via put-through transaction, for which the specific date has not been disclosed.

The projects are estimated to cost US$83 million, financed with debt and equity. AC Energy will participate with at least 50% economic share.

At a starting price of VND19,641 (US$0.84) apiece, Vietcombank is expected to book proceeds of VND116.5 billion (US$5.01 million), much lower than the bank`s initial expectation of at least VND1.04 trillion (US$44.52 million), local media reported.

This results in an increase in the stake holding of domestic shareholders in Ba Huan from 66.2% to 83.6%, of which Ba Huan`s Director Pham Thi Huan owns 64%.

The amount is equivalent to 57.71% charter capital of Vietnam Construction and Import-Export Corporation (Vinaconex).

The deal is in line with Vingroup`s target of having 200 VinMart supermarkets and 4,000 VinMart+ convenience stores by 2020.

It purchased the stock as part of a placement by KKR, which offloaded its entire holding in a US$209 million deal.

Under the plan, VietinBank will auction over 15 million Saigonbank shares or 4.91% of the latter`s charter capital at an undisclosed price, while the timing for auction has also not been given to the public.

International Finance Corporation (IFC) committed US$3.4 billion in fiscal year 2018 in East Asia and the Pacific, spurring the growth of a thriving private sector in the region.

South Korean`s third largest conglomerate will now hold 9.5% stake of Masan Group, which is valued at about US$5 billion.

With the starting price of VND10,000 (US$0.43) per share, the total value of the share amount in subject would be VND54.2 billion (US$2.33 million).

The latest investment brings the company`s valuation at US$20 million.

Oversupply concerns, slow increase in gasoline demand, and financial constraints seem to be factors behind the Vietnamese partner`s withdrawal.

After a long time making merger and acquisition (M&A) deals to set foothold in Vietnamese market, foreign retailers are ramping up their expansion plans to gain more market share here.

The cooperation with Aeon was supposed to boost efficiency in Fivimart`s corporate governance, promoting brand and expanding the network, but reality didn`t meet expectations.

With the offering price of VND61,000 (US$2.61) per share, PAN Group booked proceeds of VND820 billion (US$35.13 million) from the deal.

Once completed, the plant is expected to supply around 80 million kWh of electricity for the national power grid annually.