Vietnam Newsletter - May 2022

Market summary

• May's total deal size was USD731m (+134% m-o-m), with main contributions from these sectors: Retail (US600m), Real estate (USD91m), and Manufacturing (USD18m)

• Retail leads the transaction landscape in May with 3 notable deals: Bach Hoa Xanh's private placement (USD598m), Coolmate's fundraising (USD2m). and Shinhan acquisition of a 10% stake in Tiki (value is undisclosed)

• The announcement of the stock dividend issuance of Phat Dat Real (USD78m) and the capital contribution of Dat Xanh Service into its subsidiaries (USD15.5m) drove the Real estate sector.

• The Manufacturing sector was driven by Create Capital Viet Nam with a USD13m of private placement

• In the Finance sector, T&T Group JSC acquired a 5.60% stake in Saigon - Hanoi Securities Joint Stock Company (HNX:SHS) for approximately USD9.4m.

• Other deals contributed for the remaining of c. USD15.5m

Aggregate Deal Values = USD731m

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This month’s top deals

Retail

Bach Hoa Xanh Technology and Investment Joint Stock Company expects to receive funding from Mobile World Investment Corporation

Bach Hoa Xanh Technology and Investment Joint Stock Company announced that it will issue 1,389,000,000 common shares at a price of VND10,000 per share to receive VND13,890,000,000,000 in an equity round of funding on March 23, 2022. The company will close the transaction in May 2022. The transaction included participation from returning investor Mobile World Investment Corporation. The transaction has been approved by board of directors of the investor.

Fastech Asia Co. Ltd (Coolmate) announced that it has received USD2m funding

Fastech Asia Co. Ltd announced that it has raised $2 Million round of funding led by new investor, Access Ventures on May 13, 2022. The transaction also included participation from DSG Consumer Partners, CyberAgent Capital Co., Ltd., Do Ventures on May 13, 2022.

Shinhan acquires 10% stake in Tiki

South Korea's Shinhan Financial Group said it has reached an agreement to acquire a 10 percent stake in Vietnam-based e-commerce company Tiki in a transaction that could involve secondary shares.

Shinhan’s financial expertise expect to synergize Tiki’s database in a broad range of areas to build a new converged digital ecosystem in Vietnam

Article links:

Bach Hoa Xanh Technology and Investment Joint Stock Company expects to receive funding from Mobile World Investment Corporation

Fastech Asia Co. Ltd (Coolmate) announced that it has received USD2m funding

Shinhan acquires 10% stake in Tiki

Real estate

Phat Dat Real Estate Development Corporation expects to increase charter by USD78m via stock issuance

Phat Dat Real Estate Development Corporation announced a share issuance for stock dividend of 178,874,303 shares at an issue price and par value of VND10,000 for gross proceeds of VND 1,788,743,030,000 on May 4, 2022.The transaction included participation from 3,837 shareholders. The transaction was approved by the board of directors of the company. The company’s capital increased from VND 4,927,719,160,000 to VND 6,716,462,190,000 after completion of the transaction.

Dat Xanh Service approved capital contribution to their subsidiaries (USD15.5m)

Dat Xanh Service will contribute c. USD15.5m to expand their subsidiaries in 5 regions, which are North, Central, Mekong River Delta, South Central Coast, Southeast of Vietnam

Article links:

Phat Dat Real Estate Development Corporation expects to receive USD78m in funding

Dat Xanh Service approved capital contribution to their subsidiaries (USD15.5m)

Manufacturing

Create Capital Vietnam Joint Stock Company Limited has filed a Follow-on Equity Offering of USD14m

The company will be offering 30,000,000 shares through rights offering at an offering price of VND10,000 per share. The exercise ratio for the rights offering is 1:1

Article links:

Create Capital Vietnam Joint Stock Company Limited has filed a Follow-on Equity Offering of USD14m

Finance

T&T Group JSC acquired 5.6% of SHS for USD9.4m

T&T Group JSC acquired a 5.60% stake in Saigon - Hanoi Securities Joint Stock Company (HNX:SHS) for c. USD9.4m on May 16, 2022.

Article links:

T&T Group JSC acquired 5.6% of SHS for USD9.4m

Note: Deal values only include disclosed completed deals with amounts restricted to local scene i.e. amounts related to the Vietnam entity and/or business. Rumored deals not included. Cross-posted deals are also adjusted to avoid double count.

*USD 1.00 = VND23,000.00 as of 01/12/2021