Market summary
The capital market started to warm up in March after the Tet break in February. Total deal size stood at USD475m, up 15% from last month.
The Financial sector remained the key contributor with USD152m, mainly coming from securities brokerage BSC's c. USD118m private placement to Hana Financial Investment Co.
Manufacturing sector was the next highest contributor with total deal size of c. USD117m, driven by fundraising activities of FDI companies such as Universal Scientific Industrials and ITM Semiconductor Vietnam
Other sectors that witness relatively significant capital flow and investment interest include Energy, Healthcare, Real Estate, F&B Services and Education.
Aggregate Deal Values = USD475m
This month’s top deals
Financial service
BIDV Securities announced a private placement of 65.7 million shares for gross proceeds of 2.7 trillions VND to Hana Financial Investment
BIDV Securities Joint Stock Company announced a private placement of 65,730,042 shares on March 3, 2022. The company followed third-party allocated method in the transaction. The transaction has been approved by the board of directors. On March 11, 2022, company announced that it will issue 65,730,042 shares for gross proceeds of approximately VND 2,700,000,000,000. The transaction is expected to close on June 30, 2022. On March 19, 2022, the company announced that the transaction will include participation from Hana Financial Investment Co., Ltd.. The investor will acquire 35% stake in the company.
CEO of Gelex Enery One Member paid 34 million USD for 52.5 million VIX shares, increasing the ownership at the brokerage firm to c.15%
CEO of Gelex Energy One Member Company Limited registered to buy more than 52.47 million VIX shares at the price of about VND 15,000 per share of VIX Securities Joint Stock Company in the issuance to offer to shareholders. The transaction is supposed to take place between 21st March 2022 and 28th March 2022
Article links:
BIDV Securities sold 65 millions shares to Hana at 41,000VND per share
Gelex CEO paid 34 million USD for 15% stake at VIX Securities
Manufacturing
Universal Scientific Industrial Vietnam received 35 million USD from Universal Global Technology
Universal Scientific Industrial (Vietnam) Co., Ltd. announced that it received $35,000,000 in an equity round of funding on March 25, 2022. The transaction will include participation from returning investor, Universal Global Technology Co., Limited to retain its 100% stake in the company. The transaction has been approved by the board of directors.
ITM Semiconductor Vietnam Co., Ltd received 20 million USD from ITM Semiconductor
ITM Semiconductor Vietnam Co., Ltd announced that it received $20,000,000 in an equity round of funding on March 4, 2022. The transaction will include participation from returning investor, ITM Semiconductor Co., Ltd. to retain 100% stake in the company. The transaction has been approved by board of directors of the investor and was expected to close on March 28, 2022.
Yongjin Metal Technology Vietnam received 12.7 million USD from two Chinese investors
Yongjin Metal Technology (Vietnam) Co., Ltd announced that it will receive $12,713,890 in an equity round of funding on March 1, 2022. The transaction will include participation from returning investor Zhejiang Yongjin Metal Technology Co., Ltd for $9,154,001 and Foshan Lianhongyuan Stainless Steel Co., Ltd. for $3,559,889. The transaction has been approved by the board of directors of Zhejiang Yongjin Metal Technology Co., Ltd in the 15th Meeting of the Company’s 5th Directorate and does not need the shareholders’ approval.
SVP Worldwide acquired Jaguar International Corporation's sewing machine manufacturing operations in Vietnam
SVP Worldwide Inc. acquired the sewing machine manufacturing operations in Vietnam from Jaguar International Corporation on March 30, 2022. The acquisition includes the product engineering organization, factory and associated warehouse, all current employees as well as the full engineering team in Japan. In addition, the acquisition includes the entire product portfolio produced at the site and the associated intellectual property. The factory will continue to supply to Jaguar International Corporation plus a range of third-party customers under SVP Worldwide's ownership.
SVP Worldwide Inc. completed the acquisition of the sewing machine manufacturing operations in Vietnam from Jaguar International Corporation on March 30, 2022.
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Universal Scientific Industrial Vietnam received 35 million USD from Universal Global Technology
ITM Semiconductor Vietnam Co., Ltd received 20 million USD from ITM Semiconductor
Yongjin Metal Technology Vietnam received 12.7 million USD from two Chinese investors
Energy
Leader Energy acquired 49% stake in Clean Energy Vision Development JSC (Vietnam) for 43.6 million USD
Leader Energy Pte. Ltd. acquired 49% stake in Clean Energy Vision Development Joint Stock Company for $43.6 million on March 21, 2022. The investment was made by way of conversion of existing bonds held by Leader issued by the target. Oh Hsiu-Hau of Allen & Gledhill acted as legal advisor to Leader Energy Pte. Ltd.
Article links:
Leader Energy acquired 49% stake in Clean Energy Vision Development JSC for 43.6 million USD
Healthcare
East Bridge Partners invest 30 million USD in Vietnam's USM Healthcare
South Korea-based private equity firm East Bridge Partners has invested 30 million USD in Vietnamese medical device manufacturer USM Healthcare, the only coronary stent developer and manufacturer in the country.
VC Cocoon Capital focuses its 22 million USD fund in Vietnam
Singapore-based early-stage VC Cocoon Capital plans to fully deploy its 22 million USD second fund by the latter part of next year, focusing in health-tech and blockchain-related fintech in Vietnam
Med247 raised 4.5 million USD by a club of investors
PHÒNG KHÁM MED247 announced that it has raised $4.5 million in a round of funding led by Altara Ventures on March 31, 2022. The transaction also included participation from returning investor KK Fund Pte. Ltd. followed by Pavilion Capital Pte. Ltd., MiRXES Pte. Ltd., East Ventures Pte. Ltd., Venturra Capital and other investors. The round was oversubscribed.
Article links:
East Bridge Partners invest 30 million USD in Vietnam's USM Healthcare
VC Cocoon Capital focuses its 22 million USD fund in Vietnam
Med247 raised 4.5 million USD by a club of investors
Real Estate
Prince Residence JSC received 22 million USD from NOVA Land
The Prince Residence Joint Stock Company announced that it received 500 billion VND (22 million USD) in an equity round of funding on March 9, 2022. The transaction is expected to close in quarter 1 and/or quarter 2. The transaction was approved by the board of directors of the company.
M Village received 1.7 million USD from Simple Tech Investment
M Village announced that it has received $1.7 million in a round of funding led by Simple Tech Investment on March 26, 2022. The transaction also included participation from Vulpes Investment Management Private Ltd, Genesia Ventures, Inc., and some angel investors.
Article links:
Prince Residence JSC received 22 million USD in an equity round of funding
M Village received 1.7 million USD from Simple Tech Investment
F&B Services
Singapore investors bought 36% of Golden Gate
Seletar Investments Pte Ltd., Seatown Private Capital Master Fund, managed by Seatown Capital Pte. Ltd. and Periwinkle Pte Ltd agreed to acquire a 35.95% stake in GOLDEN GATE Trade & Service JSC from Prosperity Food Concepts Pte Ltd, Tran Viet Trung and Nguyen Xuan Truong on March 15, 2022. Seletar Investments Pte Ltd. will acquire nearly 1.54 million shares, Seatown Private Capital Master Fund will acquire 768,431 shares and Periwinkle Pte Ltd will acquire 436,358 shares. Prosperity Food Concepts Pte Ltd will divest 32.9% stake, Tran Viet Trung will divest 2.12% of his 4.43% stake and Nguyen Xuan Truong will divest a 0.91% stake and retain 3.08% stake. The deal is expected to close by agreement method between March 15, 2022 and April 13, 2022.
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Bamboo Capital (BCG) is about to offer 60 million shares to increase charter capital
Education
FPT acquired Education Infrastructure Group JSC from APAX Holdings for 16 million USD
FPT Capital agreed to acquire an unknown stake in Education Infrastructure Group Joint Stock Company from Apax Holdings Joint Stock Company (HOSE:IBC) for VND 375 billion on March 29, 2022. Apax Holdings Joint Stock Company approved the policy to transfer 15,000,000 shares in Education Infrastructure Group Joint Stock Company to FPT with the transfer price of VND 25,000 per share.
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FPT acquired Education Infrastructure Group JSC from APAX Holdings for 16 million USD
Note: Deal values only include disclosed completed deals. Rumored, announced, or planned deals not included.
*USD1.00 = VND22,780.00