SK Group, the leading chaebol in Korea, has successfully transferred 76 million shares of Masan Group of billionaire Nguyen Dang Quang through a negotiation method.
On November 1, information from Masan Group Corporation (code MSN) said that SK Investment Vina I Pte. Ltd. (SK Group) successfully transferred 76 million shares of Masan Group through negotiation.
After the transaction, SK Group's ownership ratio at Masan Group is 3.67% of charter capital and is no longer a major shareholder. This is one of the notable transactions for stocks that have not reached the foreign ownership limit (non-FOL) in Vietnam.
The transaction also demonstrates the strong interest of global investors in Masan's story in particular, the stock market and the Vietnamese economy in general.
According to Masan, the transaction is led by large institutional investors with long-term investment horizons based in Asia, Europe and the US. SK Group’s remaining shares in Masan will be subject to customary transfer restrictions. This will provide stability to Masan Group’s shareholder structure as the company continues to drive growth and execute on strategic initiatives.
Jefferies Singapore Ltd acted as financial advisor and underwriter to SK Group for the international offering. VietCap acted as placement agent to SK Group.
Previously, in September, Korean giant SK Group had an agreement to extend the time to exercise SK Group's put option with Masan Group for up to 5 years.
SK Group has become a major shareholder of Masan since 2018 and holds the option to sell shares to MSN in 2024. At that time, the Korean giant spent 530 billion won (about 11,000 billion VND) to buy 9.5% of Masan Group's capital.
In the third quarter of 2024, Masan recorded a net profit of VND701 billion, up 15 times over the same period, thanks to strong growth in retail consumer businesses and reduced net interest expenses.
In the first 9 months, Masan achieved VND1,308 billion in profit after tax after allocation to minority shareholders and completed 130.8% of the profit after tax plan according to the base scenario approved by shareholders at the beginning of the year.
Source: Vietnamnet
Source: https://www.masangroup.com/vi/news/masan-news/sk-group-completes-sale-of-76-million-masan-group-shares.html
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