Vietnam Digest: Masan’s bond offering; Korea’s KIM acquires HVCapital

Fish sauce production at Masan Consumer. Visual from Masan Group report.

Masan Group has announced the first phase of its bond offering while Korea Investment Management Co Ltd has acquired Vietnamese fund management firm Hung Viet Fund Management JSC (HVCapital).

Masan offers $129m bond issue in first stage

Vietnam’s FMCG giant Masan Group has announced the first stage of its bond offering stage with the total value of mobilization of VND3 trillion ($129 million), according to a filing on Ho Chi Minh City Stock Exchange.

This is part of the company’s plan to issue up to 10 trillion dong ($431.5 million) worth bonds in 2020. The bond proceeds will be used to expand its business, lend to units and repay a loan.

The Ho Chi Minh City-based company said that it will offer the securities in four stages in the first half of this year. The bonds offered will be non-convertible, unsecured and without warrants.

The expected release date for the first stage is on March 8, 2020.

Masan said it will use half the proceeds to increase its holdings in Masan Vision Co. Ltd. The remainder will be for loans to its units Masan Consumer Holdings and MNS Meat Ha Nam Co., and to repay VND1 trillion borrowed from subsidiary Nui Phao Mining.

Korean investment firm KIM acquires Vietnam’s HVCapital

Korea Investment Management Co Ltd (KIM) has acquired a 99 per cent stake in Vietnamese fund management firm Hung Viet Fund Management JSC (HVCapital).

According to an announcement of Vietnam’s State Securities Commission, all of 2.5 million shares, equivalent to 100 per cent of charter capital of HVCapital were transferred to KIM and two foreign individual shareholders.

After the transaction, KIM will own 99 per cent stake of HVCapital while the two foreign investors including Yun Hang Jin and An Jong Hoon will own a 1 per cent stake in the fund management firm.

The terms of the deal were not disclosed.

The South Korean investment firm has invested heavily in listed companies as the major shareholders in Hoa Binh Construction Group (HBC) and Dat Xanh Group (DXG).

Based in Ho Chi Minh City, HVCapital is a fund management firm with a total paid-up capital of VND25.4 billion ($1.09 million). The company manages private and listed securities investments for local and offshore investors.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.