SK Group plans to buy US$1 billion Vingroup shares

A Vincom Centre developed by Vincom Retail, a sub-unit of the real estate-technology-retail giant Vingroup. – VNS Photo

HÀ NỘI — South Korean conglomerate SK Group plans to purchase US$ 一 billion worth of stocks in Việt Nam’s real estate-retail-tech giant Vingroup, according to Bloomberg.

The investment could be made as early as April, Bloomberg said on Friday, citing South Korea’s Maeil Business Paper.

Vingroup has recently asked shareholders to approve its private issuance of  二 五0 million shares to a maximum of five foreign institutional investors to raise at least VNĐ 二 五 trillion (US$ 一.0 七 billion).

The capital raised from share issuance would be spent on developing technological and industrial sub-units (VNĐ 六 trillion), paying loans and interests (VNĐ 一0 trillion), and providing extra fundd for the parent firm and its subsidiaries (VNĐ 九 trillion).

Vingroup is now the largest listed company in Việt Nam by market capitalisation, which reached VNĐ 三 七 三. 四 二 trillion at the end of Friday.

The company shares gained  一. 四 per cent to end Friday at VNĐ 一 一 八, 六00 per share.

In  二0 一 八, SK Group bought  一 一0 million shares in the largest private equity consumer firm Masan Group for VNĐ 一 一 trillion ($ 四 七0 million), becoming the largest foreign shareholder with a  九. 五 per cent stake.

The South Korean group operates in the fields of energy, teleco妹妹unication, high-tech components, logistics and services. It is present in more than  四0 countries and territories, earning $ 一 四 一 billion in  二0 一 七. — VNS