Market Summary
In October 2023, Vietnam market witnessed several transactions with a total value of USD1,251m mainly contributed by Vietnamese giants - Masan and Vinfast.
The most active industry was Technology with USD914m transactions value, in which Vinfast acquisition of VinES Energy Solutions accounted for USD911m.
The USD200m transaction from Bain in Masan is a landmark deal in the Vietnamese Consumer sector.
Financial and healthcare services are other active markets with the contribution of USD47.8m and USD45.6m respectively.
Aggregate Deals Value = USD1,250.9m
This month's top deals
Agriculture and Food
Hong Ha Food Investment Development Joint Stock Company intends to issue 18,000,000 common shares
Hong Ha Food Investment Development Joint Stock Company announced a private placement of 18,000,000 common shares at a price of VND10,000 per share for the gross proceeds of VND180,000,000,000 on October 3, 2023. The transaction will include participation from less than 100 investors. The shares are restricted to a hold period of 3 years from the ending of the issuance. The transaction has been approved in the 1st extraordinary general meeting of shareholders in 2023.
On October 12, 2023, the company announced that the transaction has been approved by the shareholders of the company and 6,000,000 shares will be subscribed by strategic investors and 12,000,000 shares for professional securities investors.
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TLK Agriculture Joint Stock Company agreed to acquire Phu Ben Tea Company Limited from Borelli Tea Holdings Ltd.
TLK Agriculture Joint Stock Company agreed to acquire Phu Ben Tea Company Limited from Borelli Tea Holdings Ltd. for USD2.15 million on October 25, 2023. As of December 31, 2022, Phu Ben Tea Company Limited reported total revenue of USD3.47 million (VND85.2 billion). The deal is expected to be completed on December 24, 2023.
Phu Ben Tea Company Limited (Phu Ben Tea Company Limited holds and manages tea factories and plantations and engages in growing, manufacturing, and selling of tea and produces around 4.5 million kgs of tea annually in the three tea processing factories owned by it. The company is based in Phu Tho, Vietnam. As of March 4, 2009, Phu Ben Tea Company Limited operates as a subsidiary of Borelli Tea Holdings Ltd.).
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Consumer & retail
Bain Capital scores first deal in Vietnam, to invest at least USD200 million in Masan Group
On October 2, Masan Group Joint Stock Company (Masan) said that Bain Capital - the world's leading private investment fund with total assets under management of approximately USD180 billion, has agreed to invest at least USD200 million. USD equal to equity capital into Masan Group with a value of VND85,000 per share. This transaction marks Bain Capital's first investment project in Vietnam.
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Bain Capital scores first deal in Vietnam, to invest at least USD200 million in Masan Group
Energy & Utilities
Viet Nam Gas and Chemicals Transportation Corporation announced a private placement to issue common shares
Viet Nam Gas and Chemicals Transportation Corporation announced a private placement to issue common shares for the gross proceeds of VND224,355,970,000 on September 28, 2023. The transaction has been approved by the shareholders of the company.
Viet Nam Gas and Chemicals Transportation Corporation will use the proceeds of VND150,735,576,000 for Payment for Loyal ship purchase and VND73,620,394,000 for Supplement business capital and working capital of the Company.
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Financial Services
APG Securities Joint Stock Company announced a private placement of 70,000,000 common shares
APG Securities Joint Stock Company announced a private placement of 70,000,000 common shares at a price of VND11,000 per share for the gross proceeds of VND770,000,000,000 on October 30, 2023. The transaction has been approved by the shareholders of the company. The transaction is expected to close in quarter 4, 2023.
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APG Securities Joint Stock Company announced a private placement of 70,000,000 common shares
Heng Leasing and Capital Public Company Limited (SET:HENG) agreed to acquire 75% stake in S68 Capital Investment LLC
Heng Leasing and Capital Public Company Limited (SET:HENG) agreed to acquire 75% stake in S68 Capital Investment LLC from Nguyen Thanh Hien and Hoang Van Hung for VND4.3 billion on October 3, 2023. The acquisition will be funded from the working capital. Board of directors of Heng Leasing and Capital approved the transaction in its meeting held on October 3, 2023. The transaction is conditional upon S68 Capital receiving related approval and operational license in connection with its business from the relevant government authorities of Vietnam and may continuously operate its business, sellers agree to take responsibility for any liabilities related or associated with S68 Capital that exist or occur prior to Heng Leasing's acquisition of S68, no events or actions that may have significant adverse effects on S68 or prevent the acquisition of the capital contributions in S68 and no amendments to the law, announcements, regulations, orders or guidelines that would prohibit the parties from being able to proceed with the transfer and acquisition. The transaction is expected to close within March 2024.
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Viet First Securities Corporation announced a private placement to issue 39,750,000 shares
Viet First Securities Corporation announced a private placement to issue 39,750,000 shares at an issue price of VND10,000 per share for the gross proceeds of VND397,500,000,000 on August 22, 2023. The transaction will include participation from new investors EVN Finance Joint Stock Company for 12,000,000 shares, Tran Anh Thang for 7,000,000 shares, Pham Thi Nga for 2,000,000 shares, Dao Thu Ha for 2,000,000 shares, Hoang Minh Ngoc for 2,000,000 shares, Dao Thi Lan for 5,000,000 shares, Hoang Thanh Mai for 5,000,000 shares and Tran Thi Hue for 4,750.000 shares. The transaction has been approved by the shareholders of the company.
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Viet First Securities Corporation announced a private placement to issue 39,750,000 shares
Healthcare & Life Science
Scotts Capital Pte. Ltd. agreed to acquire an majority stake in American International Hospital
Scotts Capital Pte. Ltd. agreed to acquire an unknown majority stake in American International Hospital from My My Trading - Services Company Limited for USD45.6 million on October 2, 2023. Oh Hsiu-Hau and Tran Ngoc Hoang Phuong of Allen & Gledhill (Vietnam) acted as legal advisor to Scotts Capital.
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Scotts Capital Pte. Ltd. agreed to acquire an majority stake in American International Hospital
Real Estate
Sao Mai Viet Investment And Development Joint Stock Company announced a private placement of 40,000,000 common shares
Sao Mai Viet Investment And Development Joint Stock Company announced a private placement of 40,000,000 common shares at an issue price of VND10,000 per share for gross proceeds of VND400,000,000,000 on May 16, 2023. The common shares have a par value of VND10,000 per share. The common shares have a hold period of one year from the date of completion of the transaction. The company was expected to close transaction after the state securities commission approved the private placement. On May 20, 2023, the company announced that the transaction has been approved at the annual general meeting of 2023 shareholders of the company.
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Technology
Nami Technology JSC, Inc. announced that it has raised USD2 million in a round of funding led by Thien Viet JSC
Nami Technology JSC, Inc. announced that it has raised USD2 million in a round of funding led by new investor, Thien Viet Securities Joint Stock Company on October 17, 2023.
Nami Technology JSC, Inc. (Nami Technology JSC, Inc. develops and provides AI voice processing solutions for businesses to enhance their operations. The company offers Crystal Sound conference call enhancement boosters, VoiceDNA voice biometric authentication solutions, automatic speech recognition, and conversation intelligence solutions for business operations. The company is based in Ho Chi Minh City, Vietnam).
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VietDevelopers received USD150,000 in Seed round
VietDevelopers received USD150,000 from an angel investor in Seed round. VietDevelopers is a technology company that provides IT consultancy, AI development, and AI solutions. The company was founded in 2022 with the mission of enhancing IT capabilities through deep training, consulting, and developing quality, innovative, and professional solutions.
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VietDevelopers received USD150,000 in Seed round
VietGigs JSC received another USD10,000 from GoldenGate Venture
VietGigs JSC received another USD10,000 from GoldenGate Venture in its Pre-Seed round. Up to now VietGigs has succefully raised a total of USD128,000 from Amazon, IBM Venture and GoldenGate.
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VietGigs JSC received another USD10,000 from GoldenGate Venture
VinFast Auto Ltd. (NasdaqGS:VFS) agreed to acquire VinES Energy Solutions Joint Stock Company
VinFast Auto Ltd. (NasdaqGS:VFS) agreed to acquire VinES Energy Solutions Joint Stock Company from Pham Nhat Vuong on October 11, 2023. Vingroup's Chairman, Mr. Pham Nhat Vuong, announces that he will donate 99.8 percent of VinES Energy Solutions Joint Stock Company's shares to VinFast. The merger is designed to enhance VinFast's self-sufficiency in battery technology and its production chain, while increasing its competitive edge in the ever-growing electric vehicle market.
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VinFast Auto Ltd. (NasdaqGS:VFS) agreed to acquire VinES Energy Solutions Joint Stock Company
Others
An unknown buyer agreed to acquire 31.65% stake in Khang Minh Quartz Stone JSC
An unknown buyer agreed to acquire 31.65% stake in Khang Minh Quartz Stone Joint Stock Company from Khang Minh Group Joint Stock Company (HNX:GKM) for VND57.2 billion on October 10, 2023.
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An unknown buyer agreed to acquire 31.65% stake in Khang Minh Quartz Stone JSC
Plastic Additives Joint Stock Company announced a private placement of 3,299,993 common shares
Plastic Additives Joint Stock Company announced a private placement of 3,299,993 common shares at an issue price of VND10,000 per share for the gross proceeds of VND32,999,930,000 on September 30, 2023. The company has paid issuance expenses of VND134,050,000 and net proceeds will be VND32,865,880,000.
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Plastic Additives Joint Stock Company announced a private placement of 3,299,993 common shares
Pomina Steel Joint Stock Company announced a private placement of 10,604,038 common share
Pomina Steel Joint Stock Company announced a private placement of 10,604,038 common share at a price of VND10,000 per share for gross proceeds of VND106,040,380,000 on October 16, 2023. The transaction has been approved by board of directors of the company. The shares issued in the transaction is subject to transfer restrictions of 3 years from the date of closing the transaction. The transaction is expected to close in the 4th quarter of 2023.
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Pomina Steel Joint Stock Company announced a private placement of 10,604,038 common share
Truong Thanh Auto Corporation announced that it will receive VND12,000,000,000 in an equity round of funding
Truong Thanh Auto Corporation announced that it will receive VND12,000,000,000 in an equity round of funding from returning investor Cencon Vietnam Joint Stock Company on October 17, 2023.
Truong Thanh Auto Corporation (Truong Thanh Auto Corporation engages in wholesale of cars and other motor vehicles. Truong Thanh Auto Corporation was formerly known as Cencon Electric Automobile Company Limited. The company is based in Ha Giang, Vietnam).
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Note: Deal values include disclosed announced & closed deals with amounts restricted to the local scene i.e., amounts related to the Vietnam entity and/or business. Rumored deals are not included. Cross-posted deals are also adjusted to avoid double count.