SK Group plans to buy 1 billion USD worth of Vingroup shares
Conglomerate SK Group of the Republic of Korea (RoK) plans to purchase 1 billion USD worth of stocks in Vietnam’s real estate-retail-tech giant Vingroup, according to Bloomberg.
A Vincom Centre developed by Vincom Retail, a sub-unit of the real estate-technology-retail giant Vingroup. (Photo: VNA)
Hanoi (VNS/VNA)-🔯 Conglomerate SK Group of the Republic of Korea (RoK) plans to purchase 1billion USD worth of stocks in Vietnam’s real estate-retail-tech giantVingroup, according to Bloomberg.
The investment couldbe made as early as April, Bloomberg said on March 22, citing the RoK’s Maeil Business Paper. Vingroup has recentlyasked shareholders to approve its private issuance of 250 million shares to amaximum of five foreign institutional investors to raise at least 25 trillionVND (1.07 billion USD). The capital raisedfrom share issuance would be spent on developing technological and industrialsub-units (6 trillion VND), paying loans and interests (10 trillion VND), andproviding extra fund for the parent firm and its subsidiaries (9 trillion VND). Vingroup is now thelargest listed company in Vietnam by market capitalisation, which reached 373.42trillion VND at the end of March 22. The company sharesgained 1.4 percent to end March 22 at 118,600 VND per share. In 2018, SK Groupbought 110 million shares in the largest private equity consumer firm MasanGroup for 11 trillion VND (470 million USD), becoming the largest foreign shareholderwith a 9.5 percent stake. RoK groupoperates in the fields of energy, telecommunication, high-tech components,logistics and services. It is present in more than 40 countries andterritories, earning 141 billion USD in 2017. — VNS/VNA
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A Vincom Centre developed by Vincom Retail, a sub-unit of the real estate-technology-retail giant Vingroup. (Photo: VNA) 
