Vietnamese conglomerate Masan Group is considering listing its consumer unit, Masan Consumer Holding, which could raise $1 billion to $1.5 billion while Beacon Fund has invested in the F&B division of Lotus Group.
Masan mulls IPO of consumer unit
Vietnamese conglomerate Masan Group is considering listing its consumer unit, Masan Consumer Holding, Bloomberg reported.
The firm is working with banks, including Jefferies Financial Group, Morgan Stanley, and UBS Group, for the IPO of the consumer unit, which could raise $1 billion to $1.5 billion, the report added.
The share sale may take place early next year if market conditions are conducive.
In October last year, US-based investment firm Bain Capital struck its first deal in Vietnam by investing at least $200 million in Masan Group. The investment firm subsequently injected an additional $50 million into the conglomerate.
Masan said that it was in discussions with other investors to upsize the funding to $500 million, subject to market conditions and the company’s capital needs.
Before welcoming Bain Capital to its roster of backers, Masan had raised money for itself and subsidiaries from marquee investors such as TPG, Abu Dhabi Investment Authority, GIC, Temasek-backed SeaTown Holdings, Alibaba and SK Group. The company’s operations span from FMCG, retail and animal protein, to natural resources, financial services and technology.
In 2016, KKR said it had divested its $359 million investment in Vietnam’s Masan Consumer by selling the stakes at an undisclosed price to parent Masan Group.
Beacon Fund invests in Vietnam’s Lotus Group
Beacon Fund, a gender-lens investment fund in Southeast Asia seeded by Patamar Capital, has invested “millions of USD” in the F&B division of Lotus Group, according to an announcement.
The investment will support Lotus Group to expand its F&B activities, which include opening 10 new Japanese restaurants under different brands in 2024.
This cooperation between Beacon Fund and Lotus Group also promotes the development of talent resources, including increasing motivation and building leadership skills for the female employees of the company.
Lotus Group recorded a growth of over 20% in 2023 with the opening of 5 new restaurants, bringing the total number of restaurants to 28. Its restaurant brands in the Vietnamese market include Marukame Udon, Coco Ichibanya, Chiyoda Sushi, etc.
In 2020, Patamar Capital launched the $50-million Beacon Fund focussed on female entrepreneurs in Southeast Asia’s emerging markets. Last year, the Beacon Fund invested in Hoa Sen Viet Group, which brings foreign skincare products to Vietnam.
