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Bloomberg: & # 039; Korean Corporation wants to pour US $ 1 billion into Vingroup & # 039;


SK Group intends to invest in Vingroup through SK South East Asia Investment, as early as April.

Bloomberg Guide information from the sheet Maeil Business South Korea said SK Group decided to invest $ 1 billion to own a stake in Vingroup (stock code: VIC). The investment is expected to be made through SK South East Asia Investment, which takes place as early as next month.

Vingroup also recently announced a plan to issue individual shares, with a target of raising at least VND 25,000 billion (equivalent to nearly USD 1.1 billion). Vingroup plans to offer 250 million shares individually (equivalent to 7.8% of outstanding shares) to a maximum of 5 foreign institutional investors, at a price not lower than VND 100,000 per share. .

The proceeds from this offering will be used VND 10,000 billion to restructure loans, VND 6,000 billion to invest in subsidiaries (VinFast, VinTech, Vinsmart), VND 9,000 billion for business activities, Providing short-term capital to corporations and subsidiaries.

On the stock exchange, VIC’s Vingroup code is trading nearly VND 120,000 per share – the highest level since the listing so far (according to the adjusted market price) and about 20% higher than the minimum price of this issue. Vingroup is also the enterprise with the highest market capitalization value with the value as of the beginning of the morning of March 22, reaching over 377,000 billion dong, equivalent to over 16 billion USD.

Right before the investment in Vingroup, SK Group in September 2018 spent US $ 470 million to buy back nearly 110 million treasury shares of Masan Group, equivalent to 9.5% of the total voting shares. .

Minh Son
* Source: VnExpress

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