Vietnam’s Nguyen Kim eyes 20% in Trang Thi Trading and Service

Store visual from the company website

Nguyen Kim Investment and Development JSC has filed to be the strategic partner of Trang Thi Trading and Service, after the state-owned company announced its upcoming initial public offer (IPO) next month.

Nguyen Kim Investment and Development is one of entrepreneur Nguyen Van Kim’ two businesses. The other, electronics retail unit Nguyen Kim, was acquired by Thailand’s Central Group in January.

Also read: Thai Central Group acquires VN’s Nguyen Kim

Nguyen Kim Investment and Development has activities in various sectors, including food, pharmacy and real estate. Meanwhile, Trang Thi Trading and Service’s investment in real estate has reached $52.4 million so far. It is planning to invest $45.7 million more in new projects, including a VND352 billion ($16.37 million) mixed-use realty in Hanoi centre next year.

Another major area of business of Trang Thi is electronic and household electricity retail.

On June 22, the company will auction 3.1 million shares during the IPO, representing 23 per cent of the charter capital. If Nguyen Kim is approved to be the strategic partner, it will hold a 20 per cent stake in the Hanoi Trade Corporation subsidiary. The state capital in Trang Thi will be reduced to 51 per cent.

Also read: Trang Thi Trading and Service offers 3.1 million shares in IPO

Nguyen Van Kim is chairman of Nguyen Kim Investment and Development, holding a 46.4 per cent stake. Food has been the most active contributor to the company’s profit, particularly rice export with investees such as Angimex, Docimexco and Vinh Long Food.

On the retail business front, with the 49 per cent involvement of Central Group’s Power Buy, Nguyen Kim will expand its presence in Vietnam by 150 per cent in terms of physical outlets, by 2020. The oldest electronics retailer in the country expects the partnership will help it safeguard its leading position from competitors like Media Mart, Pico, The gioi di dong (Mobile World) and Tran Anh. However, the latter two focus on mobile device distribution.

Nguyen Kim aims at gaining the largest market share of up to 40 per cent within the next half of 2015.

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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).

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  • 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.