https://baogialai.com.vn/thaco-group-se-ban-10-co-phan-tai-thaco-auto-post241517.html

Thaco Group announced plans to sell 10% of its shares in Thaco Auto to a partner in order to expand the company's showroom network nationwide and eventually become a publicly traded company.

On the afternoon of June 28, Mr. Nguyen Hung Minh, Vice Chairman of the Board of Directors of Truong Hai Group Joint Stock Company (Thaco Group), stated that Thaco Group, together with its consulting unit, Ho Chi Minh City Securities Joint Stock Company, is working with investors on a plan to issue new shares to strategic investors, up to 10% of the shares of Thaco Auto Company Limited (Thaco Auto).

Thaco Group will sell 10% of its shares in Thaco Auto (image 1).

Kia cars are a brand of Thaco Auto.

At the same time, the 2018 ESOP shareholders of Thaco Group were converted to make Thaco Auto a public company with plans to list on the stock market within the next 3 years.

The capital raised from this new share issuance will be used to support production and business operations, expand the retail network, and develop new products for Thaco Auto in the future.

Responding to a foreign newspaper report claiming that Thaco Auto has a manufacturing plant in Hung Yen , Mr. Minh stated that this information is inaccurate, as all of Thaco Auto's automobile production is conducted only at the Chu Lai Industrial Park in Quang Nam, and there is no production elsewhere.

Currently, domestic and foreign investors are exploring and working with Thaco Group to negotiate. This new share issuance is expected to be completed this year.

Thaco Auto is a subsidiary of Truong Hai Group Joint Stock Company (Thaco Group), specializing in the production and distribution of automobiles, including passenger cars from brands such as KIA, BMW, etc.

In Vietnam, Thaco Auto has led the market in sales and market share. In addition, Thaco Auto exported over 1,400 vehicles of various types to ASEAN countries and the world in 2020, including Kia Grand Carnival passenger cars to Thailand; Kia Cerato and Kia Soluto passenger cars to Myanmar; semi-trailers to the US, Japan, Myanmar, and Thailand; and trucks to Cambodia.

In addition, Thaco Auto is also a leading manufacturer and exporter of spare parts and mechanical components in Vietnam. In 2022, Thaco Auto's export turnover of spare parts and mechanical components reached US$17 million, a 25% increase compared to 2019. Main export products include: car bumpers, wiring harnesses, automotive leaf springs, seat covers, condenser units, bus components, composite components, etc. The main export markets are South Korea, Japan, Malaysia, Italy, Russia, and others.

Thaco Group is a diversified conglomerate operating in multiple sectors, with its main areas of activity including automobiles, agriculture, mechanical engineering and supporting technology, investment and construction; trade and services, and logistics.

Thaco Group's equity capital reached VND 48,445 billion at the end of 2022, equivalent to an increase of nearly VND 2,000 billion in one year. This is the first time Thaco Group has disclosed this figure since the company delisted as a public company in May 2021.

According to Son Nhung (NLDO)

Link to original article: https://nld.com.vn/kinh-te/thaco-group-se-ban-10-co-phan-tai-thaco-auto-20230628200752275.htm

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