On the morning of October 2, Masan Group Corporation (stock code MSN) announced that Bain Capital - an investment fund with total assets under management of approximately 180 billion USD - has agreed to invest at least 200 million USD in equity capital in Masan Group with each share valued at 85,000 VND.
Specifically, Bain Capital's investment is in the form of dividend-preferred shares that can be converted into common shares at a ratio of 1:1. The fixed dividend rate of each share is 0% within the first 5 years from the date of issuance. From the 6th year onwards, the fixed dividend rate of each preferred share is up to 10%/year.
Consumers shop at WinMart store of Masan Group
This transaction marks Bain Capital’s first investment in Vietnam and demonstrates the investor’s confidence in the growth story of Vietnam’s consumer market and Masan’s ability to realize the opportunity to serve 100 million domestic consumers from basic daily needs to financial products and services.
Mr. Danny Le, CEO of Masan Group, said that in the context of the challenging consumer market, Masan has continuously invested in its existing platform and constantly implemented breakthrough innovations to always be ready when the consumer market recovers. "We aim to become a factor that brings many times more profit in the 'golden moment' of the consumer story in Vietnam. The cooperation transaction with Bain Capital is a recognition of our efforts over the past time. Masan has continuously implemented consumer-centric initiatives and investments to achieve 80% of consumer spending market share. We look forward to cooperating with Bain Capital to promote this vision, becoming a platform that meets the daily needs of consumers," said Mr. Danny Le.
Bain Capital invests 200 million USD to buy Masan shares
Mr. Barnaby Lyons, a leader of Bain Capital shared: "We are delighted to cooperate with Masan on this strategic investment project in Vietnam. We believe that Masan has the solid foundations, vision and appropriate growth strategy to succeed in an attractive and high-growth consumer market. Masan is one of the most prestigious brands in Vietnam with the ability to predict consumer trends and meet these needs thanks to its system platform and innovative products."
The proceeds from this transaction will be used to enhance Masan Group’s financial position and optimize its balance sheet. Masan expects the transaction to close in 2023 and will continue to explore other strategic equity solutions. Jefferies Singapore Limited acted as financial advisor to Masan Group in connection with this transaction.
Source: https://thanhnien.vn/quy-dau-tu-bain-capital-rot-200-trieu-usd-mua-co-phan-masan-18523100210062111.htm
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