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MASAN GROUP CORPORATION

(MSN)
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End-of-day quote Ho Chi Minh Stock Exchange  -  05-25
108600.00 VND   -1.72%
05/05Masan Group Corporation Provides Consolidated Earnings Guidance for the Full Year of 2022
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04/28Masan Seeks CrownX IPO Within 2 Years
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04/28Vietnam's Masan seeks CrownX IPO within 2 years, eyes doubling, tripling of size
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Vietnam's Masan eyes international IPO for retail unit in 2023-2024

12/12/2021 | 11:10pm EDT

HANOI, Dec 13 (Reuters) - Vietnamese conglomerate Masan said on Monday it was considering launching an international initial public offering for its consumer retail unit The CrownX in 2023-2024 after raising a further $350 million from a consortium of investors.

The consortium of investors comprised private equity firm TPG, Platinum Orchid, a wholly owned subsidiary of the Abu Dhabi Investment Authority, and Temasek-owned SeaTown Master Fund, Masan said in a statement.

The CrownX, Vietnam's biggest retail company, was formed through a merger of Vingroup's retail units and high-tech farms with Masan's food and beverage unit in 2019.

According to Masan, the post-investment valuation of The CrownX is $8.2 billion, or $105 a share. Parent company Masan will hold 81.4% of the consumer retail unit.

"The transaction marks the end of our capital raising activities at The CrownX as we shift our entire focus to scale up our Point of Life platform nationwide both off and online," said Danny Le, chief executive officer of the Masan Group.

The CrownX was considering strengthening its consumer wallet services and digitizing its entire platform to become a consumer tech company ahead of its IPO, said Le.

The retail unit has raised a total of $1.5 billion since late 2020 including $400 million funding from an Alibaba-led consortium in May and $340 million from South Korea's SK group in November.

Credit Suisse advised Masan on the deal. (Editing by Ed Davies)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -2.12% 92.5 Delayed Quote.-20.46%
CREDIT SUISSE GROUP AG 3.14% 6.96 Delayed Quote.-23.92%
MASAN GROUP CORPORATION -1.72% 108600 End-of-day quote.-23.79%
VINGROUP JOINT STOCK COMPANY 0.00% 77700 End-of-day quote.-18.30%
All news about MASAN GROUP CORPORATION
05/05Masan Group Corporation Provides Consolidated Earnings Guidance for the Full Year of 20..
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04/28Masan Seeks CrownX IPO Within 2 Years
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02/09MASAN : MSN FY2021 Earnings Release (Full version)
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More news
Financials
Sales 2022 93 258 B 4 011 M 4 011 M
Net income 2022 6 359 B 274 M 274 M
Net Debt 2022 33 441 B 1 438 M 1 438 M
P/E ratio 2022 24,6x
Yield 2022 -
Capitalization 153 847 B 6 617 M 6 617 M
EV / Sales 2022 2,01x
EV / Sales 2023 1,72x
Nbr of Employees 32 227
Free-Float 21,3%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 108 600,00 VND
Average target price 141 489,06 VND
Spread / Average Target 30,3%
EPS Revisions
Managers and Directors
Danny Le General Director
Hung Nguyen Chief Financial Officer & Deputy CEO
Quang Dang Nguyen Chairman
Nam Thieu Nguyen Director & Deputy Chief Executive Officer
Yen Hoang Nguyen Director
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