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Vietnam Newsletter - October 2023




Market Summary


  • In October 2023, Vietnam market witnessed several transactions with a total value of USD1,251m mainly contributed by Vietnamese giants - Masan and Vinfast.

  • The most active industry was Technology with USD914m transactions value, in which Vinfast acquisition of VinES Energy Solutions accounted for USD911m.

  • The USD200m transaction from Bain in Masan is a landmark deal in the Vietnamese Consumer sector.

  • Financial and healthcare services are other active markets with the contribution of USD47.8m and USD45.6m respectively.


Aggregate Deals Value = USD1,250.9m

 

This month's top deals


Agriculture and Food

Hong Ha Food Investment Development Joint Stock Company intends to issue 18,000,000 common shares

Hong Ha Food Investment Development Joint Stock Company announced a private placement of 18,000,000 common shares at a price of VND10,000 per share for the gross proceeds of VND180,000,000,000 on October 3, 2023. The transaction will include participation from less than 100 investors. The shares are restricted to a hold period of 3 years from the ending of the issuance. The transaction has been approved in the 1st extraordinary general meeting of shareholders in 2023.


On October 12, 2023, the company announced that the transaction has been approved by the shareholders of the company and 6,000,000 shares will be subscribed by strategic investors and 12,000,000 shares for professional securities investors.


Article link:

Hong Ha Food Investment Development Joint Stock Company announced a private placement of 18,000,000 common shares


TLK Agriculture Joint Stock Company agreed to acquire Phu Ben Tea Company Limited from Borelli Tea Holdings Ltd.


Consumer & retail

Bain Capital scores first deal in Vietnam, to invest at least USD200 million in Masan Group

On October 2, Masan Group Joint Stock Company (Masan) said that Bain Capital - the world's leading private investment fund with total assets under management of approximately USD180 billion, has agreed to invest at least USD200 million. USD equal to equity capital into Masan Group with a value of VND85,000 per share. This transaction marks Bain Capital's first investment project in Vietnam.


Article link:

Bain Capital scores first deal in Vietnam, to invest at least USD200 million in Masan Group


Energy & Utilities

Viet Nam Gas and Chemicals Transportation Corporation announced a private placement to issue common shares

Viet Nam Gas and Chemicals Transportation Corporation announced a private placement to issue common shares for the gross proceeds of VND224,355,970,000 on September 28, 2023. The transaction has been approved by the shareholders of the company.

Viet Nam Gas and Chemicals Transportation Corporation will use the proceeds of VND150,735,576,000 for Payment for Loyal ship purchase and VND73,620,394,000 for Supplement business capital and working capital of the Company.


Article link:

Viet Nam Gas and Chemicals Transportation Corporation announced a private placement to issue common shares


Financial Services

APG Securities Joint Stock Company announced a private placement of 70,000,000 common shares

APG Securities Joint Stock Company announced a private placement of 70,000,000 common shares at a price of VND11,000 per share for the gross proceeds of VND770,000,000,000 on October 30, 2023. The transaction has been approved by the shareholders of the company. The transaction is expected to close in quarter 4, 2023.


Article link:

APG Securities Joint Stock Company announced a private placement of 70,000,000 common shares


Heng Leasing and Capital Public Company Limited (SET:HENG) agreed to acquire 75% stake in S68 Capital Investment LLC

Viet First Securities Corporation announced a private placement to issue 39,750,000 shares

Healthcare & Life Science

Scotts Capital Pte. Ltd. agreed to acquire an majority stake in American International Hospital

Scotts Capital Pte. Ltd. agreed to acquire an unknown majority stake in American International Hospital from My My Trading - Services Company Limited for USD45.6 million on October 2, 2023. Oh Hsiu-Hau and Tran Ngoc Hoang Phuong of Allen & Gledhill (Vietnam) acted as legal advisor to Scotts Capital.


Article link:

Scotts Capital Pte. Ltd. agreed to acquire an majority stake in American International Hospital

Real Estate

Sao Mai Viet Investment And Development Joint Stock Company announced a private placement of 40,000,000 common shares

Sao Mai Viet Investment And Development Joint Stock Company announced a private placement of 40,000,000 common shares at an issue price of VND10,000 per share for gross proceeds of VND400,000,000,000 on May 16, 2023. The common shares have a par value of VND10,000 per share. The common shares have a hold period of one year from the date of completion of the transaction. The company was expected to close transaction after the state securities commission approved the private placement. On May 20, 2023, the company announced that the transaction has been approved at the annual general meeting of 2023 shareholders of the company.


Article link:

Sao Mai Viet Investment And Development Joint Stock Company announced a private placement of 40,000,000 common shares


Technology

Nami Technology JSC, Inc. announced that it has raised USD2 million in a round of funding led by Thien Viet JSC

Nami Technology JSC, Inc. announced that it has raised USD2 million in a round of funding led by new investor, Thien Viet Securities Joint Stock Company on October 17, 2023.

Nami Technology JSC, Inc. (Nami Technology JSC, Inc. develops and provides AI voice processing solutions for businesses to enhance their operations. The company offers Crystal Sound conference call enhancement boosters, VoiceDNA voice biometric authentication solutions, automatic speech recognition, and conversation intelligence solutions for business operations. The company is based in Ho Chi Minh City, Vietnam).


Article link:

Nami Technology JSC, Inc. announced that it has raised USD2 million in a round of funding led by Thien Viet JSC


VietDevelopers received USD150,000 in Seed round

VietGigs JSC received another USD10,000 from GoldenGate Venture

VinFast Auto Ltd. (NasdaqGS:VFS) agreed to acquire VinES Energy Solutions Joint Stock Company

Others

An unknown buyer agreed to acquire 31.65% stake in Khang Minh Quartz Stone JSC

An unknown buyer agreed to acquire 31.65% stake in Khang Minh Quartz Stone Joint Stock Company from Khang Minh Group Joint Stock Company (HNX:GKM) for VND57.2 billion on October 10, 2023.


Article link:

An unknown buyer agreed to acquire 31.65% stake in Khang Minh Quartz Stone JSC


Plastic Additives Joint Stock Company announced a private placement of 3,299,993 common shares

Pomina Steel Joint Stock Company announced a private placement of 10,604,038 common share

Truong Thanh Auto Corporation announced that it will receive VND12,000,000,000 in an equity round of funding



Note: 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 count.


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