Korean group sells 76 million shares of Masan, no longer a major shareholder

SK Group - a Korean conglomerate - has successfully transferred 76 million MSN shares of Masan Group through a negotiated transaction. The buyer has not been disclosed.

Masan is a corporation chaired by billionaire Nguyen Dang Quang - Photo: MSN

The information was announced by Masan Group in a statement on November 1. According to Masan, after selling 76 million MSN shares, SK Group's ownership ratio at Masan is 3.67% of charter capital.

Thus, SK Group is no longer a major shareholder in Masan. The announcement did not mention the buyer of the amount of shares SK Group sold.

Masan said only that the transaction was led by large institutional investors with long-term investment horizons based in Asia, Europe and the United States.

"This is one of the notable transactions for stocks that have not reached the foreign ownership limit (non-FOL) in Vietnam," Masan said.

In addition, the remaining shares of SK Group in MSN will be subject to customary transfer restrictions. This helps to stabilize Masan Group's shareholder structure while the company continues to promote growth.

Information that SK Group wants to divest from Masan has been stirring up the stock investment community since September last year.

According to information, Korean investors have the right to sell their shares after three years of holding, at the original purchase price, or about VND80,000/share. The transaction will be carried out from October 2023 to October 2024.

On October 24, Ms. Nguyen Yen Linh - daughter of Masan (MSN) board chairman Nguyen Dang Quang - also registered to buy 10 million MSN shares.

The transaction will take place from October 29 to November 18, by order matching or negotiation. Regarding the reason for the transaction, Ms. Linh said it was to increase the ownership ratio at MSN.

Ms. Linh said that she currently does not own any shares in MSN. If the transaction is successful, Ms. Linh will increase her holding ratio from 0% to 0.66% of the total outstanding shares of her father's corporation.

According to the report, billionaire Nguyen Dang Quang personally owns 18 MSN shares. Meanwhile, Ms. Nguyen Hoang Yen - Ms. Linh's mother and Mr. Quang's wife, and also a member of Masan's board of directors - owns more than 50 million MSN shares, accounting for 3.36%, equivalent to VND3,900 billion.

How did Masan shares fluctuate when major shareholders withdrew capital?

Near the end of the session on November 1, MSN stock price was around 74,600 VND/share, down 3% compared to the previous session.

In the last two consecutive sessions, MSN shares have been adjusted in the context of major Korean shareholders withdrawing capital.

In today's session, MSN was heavily "dumped" by both foreign investors and self-employed traders. Of which, foreign investors sold about 215 billion VND worth of MSN shares, while self-employed traders sold more than 27 billion VND.

Source: https://tuoitre.vn/tap-doan-han-quoc-ban-xong-76-trieu-co-phieu-cua-masan-khong-con-la-co-dong-lon-20241101141121391.htm