SK Group Completes Sale Of 76 million Shares in Masan Group
Ho Chi Minh City, October 31, 2024 – SK Investment Vina I Pte. Ltd. (“SK Group”) has successfully sold 76 million shares in Masan Group Corporation (“MSN” or “Masan Group”) via the put-through method, reducing SK Group’s ownership in MSN to 3.67% of charter capital and thereby ceasing to be a major shareholder (“The Transaction”). The Transaction is a notable trade for a non-foreign-ownership-limitation (non-FOL) stock in Vietnam, underscoring the strong interest from global investors in the MSN story as a proxy to the positive Vietnam macroeconomic outlook.
The Transaction was anchored by existing institutional investors and new long only investors based in Asia, Europe and the US. Additionally, the remaining shares held by SK Group are subject to a customary lock-up period, supporting the stability of Masan Group’s shareholder structure as it advances its growth and strategic initiatives.
In 3Q2024, MSN recorded VND701 billion in net profit, an uplift of 15X YoY, driven by strong profitability momentum across the consumer-retail businesses and lower debt-incurring net financial expenses. Having delivered VND1,308 billion in NPAT Post-MI in 9M2024, MSN achieved 130.8% of the base-case full-year NPAT guidance as approved by shareholders at the beginning of the year. MSN expects to continue to improve the bottom line in 4Q2024 with the expectation of approaching the full-year high-case guidance.
Jefferies acted as the Sole Financial Advisor and Sole Bookrunner to SK Group for the international tranche of the share sale. Vietcap Securities acted as the Placement Agent to SK Group.
MASAN GROUP CORPORATION
Masan Group Corporation believes in doing well by doing good. The Company’s mission is to provide better products and services to the 100 million people of Vietnam, so that they can pay less for their daily essentials. Masan aims to achieve this by driving productivity with technological innovations, trusted brands, and focusing on fewer but bigger opportunities that impact the most lives.
Masan Group’s member companies and associates are industry leaders in branded fast moving consumer goods, branded meat, modern retail, F&B retail, financial services, telecommunications, and value-add chemical processing, altogether representing segments of Vietnam’s economy that are experiencing the most transformational growth.
SK GROUP
SK Group is a leading energy and telecommunications conglomerate and a driving force of innovation in the global market, representing Korea’s outstanding technology and excelling in semiconductor and electric vehicle battery manufacturing. Ranked second among Korean enterprises in total assets, SK has strategically laid the foundation for future growth by focusing on four core businesses: advanced materials, green, digital, and bio, and is ensuring continuous innovations through unwavering dedication to these industries. SK companies combined have $136.3 billion revenue in 2023 and employ more than 100,000 people worldwide. SK Group is one of TIME's 100 Most Influential Companies of 2023.
CONTACTS:
Investors/Analysts
Phu Duong
E: [email protected]
Media
Van Pham
E: [email protected]
This press release contains forward-looking statements regarding Masan’s expectations, intentions or strategies that may involve risks and uncertainties. These forward-looking statements, including Masan’s expectations, involve known and unknown risks, uncertainties, and other factors, some of which are beyond Masan’s control, which may cause Masan’s actual results of operations, financial condition, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. You should not rely upon forward-looking statements as predictions, future events or promises of future performance.