29/1/2026
Newsletter
The Vietnamese deal landscape in January 2026 remained active, driven by a combination of large-scale cross-border M&A in retail and healthcare alongside continued capital formation across financial services and early-stage technology platforms.
Aggregate disclosed deal value reached c. USD1.69bn, supported by a mega-ticket control transaction in modern wholesale retail and a significant pharmaceutical tender offer. Thai and Chinese strategic investors were prominent in headline acquisitions, reinforcing continued regional capital inflows into Vietnam’s consumer and healthcare sectors.
In parallel, domestic capital raising remained constructive, with BIDV’s USD390m private placement strengthening the banking sector’s capital base, while venture funding into AI and technology platforms (Panthera, Nami Technology) signaled sustained investor appetite for innovation-driven growth.
Overall activity reflects a dual-track market: strategic foreign consolidation in defensive and consumption-linked sectors, alongside measured but persistent funding for scalable technology platforms.
BIDV's Capital Raise via Private Share Placement
Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) raised capital through a private share placement, with 33 institutional investors including SCIC, Dragon Capital, and Manulife Vietnam buying 264 million newly issued shares. The deal, valued at approximately USD390 million, will boost BIDV’s capital base and support its banking operations in Vietnam.
Article link: BIDV's Capital Raise via Private Share Placement
Nami Technology’s Venture Funding Round
Nami Technology JSC, Inc. completed a venture funding round valued at USD4 million, attracting investors to help drive its expansion in artificial intelligence and machine learning technologies in Vietnam.
Article link: Nami Technology’s Venture Funding Round
Nissha acquires majority stake in Vietnam medical device maker
Japan’s Nissha Group agreed to acquire a 60% stake in USM Healthcare Medical Devices Factory JSC, a Ho Chi Minh City–based manufacturer specializing in cardiology and orthopedic devices. The transaction was executed via Nissha and its local subsidiary, marking a strategic expansion into Vietnam’s growing medical device manufacturing sector
Article link: Nissha acquires majority stake in Vietnam medical device maker
Livzon subsidiary seeks control of Imexpharm
Lian SGP Holding, a subsidiary of China’s Livzon Pharmaceutical Group, registered a tender offer to acquire 120,059,970 shares of Imexpharm Corporation (IMP), representing approximately 78% of charter capital. The offer price is VND57,400 per share (c. USD2.2), valuing the transaction at approximately VND6.89 trillion (c. USD262 million). The deal would result in a controlling stake in one of Vietnam’s leading pharmaceutical companies.
Article link: Livzon subsidiary seeks control of Imexpharm
BJC to spend USD723 million acquiring MM Mega Market Vietnam
Thai conglomerate Berli Jucker (BJC) announced plans to invest USD723 million to acquire MM Mega Market Vietnam through an indirect transaction. Its subsidiary C-Distribution Asia will purchase 921.8 million ordinary shares in TCC Land International (Singapore), the holding entity that owns MM Mega Market Vietnam. Upon completion, both TCC Land International and MM Mega Market Vietnam will become subsidiaries of BJC, strengthening its footprint in Vietnam’s wholesale and retail sector.
Article link: BJC to spend USD723 million acquiring MM Mega Market Vietnam
Note: (1) Deal values include disclosed announced & closed deals with amounts restricted to the local scene i.e., amounts related to the Vietnam entity and/or business. Rumored deals are not included. Cross-posted deals are also adjusted to avoid double counting.