Vietnam Newsletter - December 2021



Market summary


  • December was a good month to raise capital in Vietnam with a total deal size of more than USD800m, in which the financial service sector was the key contributor with a total deal size of USD565m

  • SHB Bank offered more than 539 million new public shares for a total of USD293m to further grow customer and product base, while TP Bank raised its capital by USD179m by issuing common shares to existing shareholders

  • Technology also saw a good month as startups racked up on new capital, Total funds raised was USD230m

  • MoMo officially achieved its unicorn status with a valuation of c. USD2bn, after completing its USD200m series E, led by Mizuho, in Dec-21

  • The remaining technology deals are dominated by cryptocurrency startups with a total of USD30m raised, notable names include Whydah, RaceFi, and Cowboy Snake


Aggregate Deal Values = USD824m

 

This month’s top deals


Financial Services

Tien Phong Bank increased its charter capital by USD179m

Tien Phong Commercial Joint Stock Bank (HOSE: TPB) increased its charter capital by VND 4,100 billion (USD179m) by issuing ordinary shares to existing shareholders from undistributed profits according to the plan to increase charter capital. approved by TPBank's General Meeting of Shareholders in Resolution No. 02/2021/NQ-TPB.ĐHĐCD dated November 1, 2021.

Saigon-Hanoi Bank (SHB) raised charter capital by USD293m

SHB has successfully offered more than 539 million shares – accounting for 100% of the total number of shares registered for offering; to raise chartered capital to more than 26,674 billion dong (USD293m)

HSC to issue 152 million shares for USD93m capital raise

Ho Chi Minh City Securities Company ("HSC", HOSE: HCM) has closed the list of shareholders to issue more than 152 million shares to existing shareholders at the ratio of 2:1 (1 share will receive 1 right to buy, 1 new share for every 2 right to buy). Issuing price is 14,000 VND/share. Thus, the total value of capital mobilized from this offering is more than VND 2,100 billion (USD93m)

Article links:

Tien Phong Bank increased its charter capital by of USD179m

Saigon-Hanoi Bank (SHB) raised charter capital by USD293m

HSC to issue 152 million shares for USD93m capital raise



Technology

Momo raised USD200m in Series E from Mizuho at a USD2bn valuation

MoMo had raised $200 million in its latest funding round as it looks to widen the gap with dozens of other digital payment startups in a hotly contested race awash with investor funding.

Blockchain-based gamehub Whydah rasied USD25m towards open metaverse

RaceFi rasied USD3m in seed round

COWBOY SNAKE raised USD2m of growth capital

Article links:

Momo raised USD200m in Series E from Mizuho at a USD2bn valuation

Blockchain-based gamehub Whydah rasied USD25m towards open metaverse

RaceFi rasied USD3m in seed round

COWBOY SNAKE raised USD2m of growth capital



Manufacturing

Hanoi Iron and Steel sold 5 million shares for USD2m

Hanoi Iron and Steel JSC (UPCOM: HSV) has successfully distributed 5 million shares, accounting for 100% of the shares registered to be offered for sale at a price of 10,000 VND/share to 8 individual investors approved by the Board of Directors on November 17, 2021

Damsan to issue 10 million shares to raise USD4m

Damsan Joint Stock Company (HOSE: ADS) will finalize the list of shareholders to issue 10 million shares for sale to existing shareholders to increase its charter capital. The issuing price 10,000 VND/share, and the company is expected to mobilize 100 billion VND. The money raised will be used to invest and contribute capital to Thai Binh Cau Ngan Investment Joint Stock Company

Article links:

Hanoi Iron and Steel sold 5 million shares for USD2m

Damsan to issue 10 million shares to raise USD4m



Real Estate

Vinahud succesfully raised USD14m from the issuance of 31 million shares

Vinahud Housing and Urban Development Investment Joint Stock Company (UPCoM:VHD) successfully privately issued 31 million shares to investors to raise capital on December 10 with an offer price of 10,000 VND/share. Finishing a mobilization of 310 billion VND.

Article links:

Vinahud succesfully raised USD14m from the issuance of 31 million shares



Agribusiness

An Giang Import - Export raised USD8m from bond issuance

An Giang Import - Export Company (HOSE: AGM) issues bonds to fund the acquisition of new rice factories

Article links:

An Giang Import - Export raised USD8m from bond issuance





Note: Deal values only include disclosed completed deals. Rumored, announced, or planned deals not included.

*USD1.00 = VND23,180.00