SK Group is Vingroup’s new strategic partner. Photo: Vingroup Accordingly, SK Group will spend about VND23.3 trillion ($1 billion) to acquire 154.3 million shares of Vingroup (VIC) as well as 51.4 million shares of VinCommerce. The average price for this deal is VND113,000 ($4.9) per share, 13 per cent higher than the expected price of at least VND100,000 ($4.3) which VIC announced in the previous offering plan. According to the private offering plan announced in this March, Vingroup expected to offload 250 million shares or 7.8 per cent of the shares in circulation to a maximum of five foreign investors. This billion-dollar deal is the largest transaction conducted by Vingroup so far in 2019. After the transaction, VIC’s charter capital is expected to increase to VND33,459 billion ($1.45 billion), 4.46 per cent of which will be owned by SK Group, in addition to a part in VinCommerce, which manages and operates the supermarket system consisting of VinMart, VinMart +, Vinpro, and the Adayroi.com e-commerce platform. Woncheol Park, representative of SK Southeast Asia Investment Pte., Ltd., told ForbesVietnam.com that through the co-operation with Vingroup, SK Group seeks new business opportunities to develop in Southeast Asia. “SK Group highly appreciates Vingroup and… Read full this story
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