News

By the time the US$2.6-billion Hoa Phat Dung Quat iron and steel production complex is completed in 2020, Hoa Phat Group aims to become one of the world`s top 50 steel companies, said the Group`s Chairman Tran Dinh Long.

Warburg Pincus is relishing its opportunities in Vietnam as the economy grows and capital markets develop, said Jeffrey Perlman, Southeast Asia chief of the private equity firm to Reuters.

The Ministry of Planning & Investment (MPI) is responsible to finalize the draft decree on investor selection of the Bidding Law in March, urged the Deputy Prime Minister Trinh Dinh Dung.

FPT Retail aims to reach revenue of VND16 trillion (US$700 million) in 2018, increasing 22%, according to the company`s document to be submitted to the annual shareholder meeting on March 28.

Vietnam`s Airbnb-like startup Luxstay has successfully mobilized US$2.5 million through its Pre-series A funding round, announced Luxstay.

Vietnam Rubber Group (VRG) and Power Generation Corporation (Genco 3) will be listed on the Unlisted Public Company (UPCoM) today on March 21, according to the Hanoi Stock Exchange`s recent announcement.

Asset management firm VinaCapital has invested US$10 million in Ricons Construction Investment, a subsidiary of the country`s leading developer Cotec Construction (CotecCons), following a report by Deal Street Asia.

Thailand`s Siam Cement Group (SCG) is open to various options of shareholding structure at Long Son Petrochemical complex (LSP), as long as the group still have the majority, said Roongrote Rangsiyopash, President and CEO of SCG to Nikkei Asian Review.

Vietnam`s PetroVietnam Exploration Production (PVEP) announced signing an agreement to sell 5% working interest in an offshore oil block in Vietnam to US-based Murphy Oil.

Dragon Capital, a group of investment funds, has completed acquiring 15.3 million shares of Saigon Beer Alcohol and Beverage (Sabeco) from Singapore-based Nogard Pte., Ltd., according to Vietnam Securities Depository (VSD) on March 15.

Vietnam Television Cable (VTVcab), a unit of state-owned broadcasting agency Vietnam Television (VTV), plans to hold its initial public offering (IPO) on April 17, according to an announcement of the Hanoi Stock Exchange.

Danish brewer Carlsberg, currently the strategic investor of Hanoi Beer Alcohol and Beverage (Habeco), has been negotiating for a majority holding in Habeco.

PetroVietnam (PVN) and the Japan Bank International Cooperation (JBIC) are discussing financial arrangements for the Block B gas project and 52/97 field development project, announced PVN on its website.

Vietnam Southern Food (Vinafood II) has raised VND1.16 trillion (US$51 million) from selling its 22.97% stake in an initial public offering (IPO) on March 14 at the Ho Chi Minh Stock Exchange.

Vietnam Textile Research Institute (VTRI) concluded its initial public offering (IPO) on March 12 with the sale of 2.2 million shares for a return of VND49 billion (US$2.1 million), announced the Hanoi Stock Exchange.

Global private equity major Warburg Pincus has agreed to invest over US$370 million in Techcombank, marking the largest-ever private equity investment in Vietnam to date, announced Techcombank on March 12.

The Ministry of Planning & Investment (MPI) has requested Ha Tinh province to clarify reasons behind Formosa Ha Tinh Steel Corporation (FHS)’s decision to increase total investment in the Son Duong Port and Integrated Steel Mill Complex.

A total of 41 investors registered to purchase 115.6 million shares at Vietnam Southern Food Corporation (Vinafood II) in the upcoming initial public offering (IPO), slightly exceeding the 114.8 million put on offer, announced the Ho Chi Minh City Stock Exchange (HSX).

Nawaplastic Industries, a subsidiary of Thailand’s Siam Cement Group (SCG), successfully acquired 24.1 million shares of Binh Minh Plastic from the State Capital Investment Corporation (SCIC) at the Ho Chi Minh Stock Exchange on March 9.

Japanese companies` interest in Vietnam continues to grow, boosting the country to the second spot, following China, for the first time on Japan External Trade Organization (JETRO)`s ranking of countries and areas favorable for business expansion in the 2017 fiscal year.