Petrolimex, BSR join hands to sell Dung Quat Refinery products

The vibrant mergers and acquisitions (M&A) market in Vietnam is developing and the 2017-2018 period is forecasted to witness more successful M&A deals, as well as new state divestments, which is a big opportunity for domestic and international investors. Bad debts dampen M&A boom in banking industry Reforms help M&A landscape to shine Serving up an M&A feast Abundant attractive deals make huge contribution to M&A market Danang M&As help overcome delays State divestment from Vinamilk will be imlemented in October 2017 The M&A market in Vietnam reported a record value of $5.8 billion in 2016 and KPMG Vietnam even forecasted that the second half of 2017 will witness more sizable M&A deals. The reason is that the private sector in Vietnam is considering M&A an important strategy to ensure sustainable development and expansion. Also, the Vietnamese government is speeding up state divestment in a number of big firms. Thus, it is likely that more M&A deals will come in the second half of 2017 and early 2018. Below is the list of ten sizable divestment that are forecasted to be implemented during 2017-2018. 1. Vietnam Dairy Products Joint Stock Company (Vinamilk)  The Vietnamese government has approved the plan on selling more than 48.3 million Vinamilk shares, an equivalent of 3.33 per cent of…... [read more]

PV Power, a wholly-owned subsidiary of state-owned PetroVietnam and the second largest electricity producer in Vietnam after Electricity of Vietnam (EVN) in terms of capacity, hopes to complete its equitisation in December this year, after having missed the deadline numerous times, according to information published on the company’s website. PV Power prepares for its next attempt at the IPO It is the third time the company has released the deadline for its equitisation. In early June, the company published on its website that it is expected to conduct its initial public offering (IPO) at the end of August. Previously, PV Power submitted its equitisation plan approved by the Ministry of Industry and Trade to the prime minister for approval. The plan was approved at the end of June 2017. Previously, in June 2016,  PV Power planned to sell a 25 per cent stake at its IPO in October 2016. However, the IPO was not conducted at the time. For the third time, PV Power has changed the state stake volume to be divested to 29 per cent for strategic investors. At the IPO it is planning to sell 20 per cent, 5 per cent less than the previous plan. PV Power has approached a number of potential investors, such as VinaCapital, BNP Paribas, Standard Chartered, and Deloitte, as well as funds operating in Vietnam, such as Indochina Capital, Dragon Capital, SGI Cap, Kingsmead,…... [read more]

The Vietnamese Chamber of Commerce in Singapore, known as VietCham Singapore (www.vietcham.org.sg), was established in 2013 to support Vietnamese businesses with their regional and global expansion. VietCham drives bilateral and multi-lateral trade and investments in five countries On August 19, VietCham Singapore will host a workshop entitled “Singapore as a launch-pad for Vietnamese businesses” in Ho Chi Minh City, aiming to help local firms expand their horizon and move beyond boundaries (www.vietcham.org.sg/be-phong-singapore-cho-doanh-nghiep-viet). The workshop will focus on establishing and operating company in Singapore, taxation, multilateral trade, banking facilities, capital mobilisation, initial public offerings, and mergers and acquisitions in both Singapore and Vietnam. Over the years, VietCham Singapore has been supporting various Vietnamese firms to reach out to regional and global market through Singapore gateway. According to Dr. David Nguyen Quang Vu - VietCham Singapore’s president, his organisation’s goal is to enable Vietnamese businesses with setting up and maintaining companies in Singapore, obtaining all necessary licences and certificates, product distribution and marketing, exhibition, tradeshow and roadshow, business matching, market research and business intelligence, trademarks and   intellectual property protection, wealth and asset management, deal-making, M&A and corporate advisory. “In Singapore, most procedures and applications can be processed online, helping to save time and travel. Businesses may acquire Singapore business licences within 24 hours,” Vu said at a recent workshop on export promotion via Singapore in the Mekong Delta region this April. VietCham Singapore…... [read more]

A view of Vincom Mega Mall Times City in Ha Noi. — Photo vinhometimescity.net Vincom Retail, the Vietnamese mall operator under the property and retail conglomerate Vingroup JSC, plans to launch its initial public offering (IPO) this year, according to Bloomberg. The company aims to mobilise about US$600 million through the sale, which may include a sale of existing shares as well as new stock, people with knowledge of the matter told Bloomberg. Vincom Retail is preparing to raise funds as economic growth in Viet Nam raises living standards and increases shoppers’ disposable incomes. The benchmark VN Index this month hit its highest level since 2008, while the Asian Development Bank forecasts the nation’s economy will grow 6.3 per cent this year. The $600 million offering of Vincom Retail is expected to become the country’s second largest IPO in a decade, trailing only the 2007 share sale from Joint Stock Commercial Bank for Foreign Trade of Viet Nam when it was selected for a government pilot programme for equitisation in the banking sector. The last IPO that topped $100 million came from local airline VietJet Aviation JSC, whose shares are up 48 per cent since they started trading in February. The exact size of the Vincom Retail offering hasn’t been set yet, and the timetable for the listing could slip, the people told Bloomberg. Viet Nam News contacted Vingroup representatives for confirmation, but they declined to comment. The global…... [read more]

The group said in its management board’s resolution issued recently that the divestment will be carried in 2017 and divided into two stages. In the first stage, FPT will sell 30% to institutional investors to reduce its ownership to 55% from the current level of 85%. Secondly, FPT will sell a maximum of 10% of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO). According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about VND2.3-2.7 trillion (US$103-121 million) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services. At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth. HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year. According to HSC, the IPO price has not been determined as FPT did not want its shares to be owned by a single investor, however, it could be lower than the share price of Mobile World Corporation. HSC also said that FPT Retail could trade on the HCM Stock Exchange (HOSE) in 2018. Shares of FPT, listed on the HOSE under code FPT, closed on August 2 up…... [read more]

Hanoi, August 3 (VNA) - Information technology group FPT Corporation (FPT) has announced it will reduce its ownership in its retail arm FPT Technology Production Distribution and Retail to below 50 percent.  The group said in its management board’s resolution issued recently that the divestment will be carried in 2017 and divided into two stages.  In the first stage, FPT will sell 30 percent to institutional investors to reduce its ownership to 55 percent from the current level of 85 percent.  Secondly, FPT will sell a maximum of 10 percent of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO).  According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about 2.3-2.7 trillion VND (103-121 million USD) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services.  At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth.  HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year.  According to HSC, the IPO price has not been determined as FPT did not want its shares to be owned by a single investor, however, it could be lower than the share price of…... [read more]

Inside a FPT Shop store in Dan Phuong district, Hanoi (Photo: fptshop.com.vn) Hanoi (VNA) - Information technology group FPT Corporation (FPT) has announced it will reduce its ownership in its retail arm FPT Technology Production Distribution and Retail to below 50 percent. The group said in its management board’s resolution issued recently that the divestment will be carried in 2017 and divided into two stages. In the first stage, FPT will sell 30 percent to institutional investors to reduce its ownership to 55 percent from the current level of 85 percent. Secondly, FPT will sell a maximum of 10 percent of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO). According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about 2.3-2.7 trillion VND (103-121 million USD) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services. At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth. HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year. According to HSC, the IPO price has not been determined as FPT did not want its shares to be owned by a single…... [read more]

Inside a FPT Shop store in Dan Phuong District, Ha Noi. — Photo fptshop.com.vn Information technology group FPT Corporation (FPT) has announced it will reduce its ownership in its retail arm FPT Technology Production Distribution and Retail to below 50 per cent. The group said in its management board’s resolution on Tuesday that the divestment will be carried in 2017 and divided into two stages. In the first stage, FPT will sell 30 per cent to institutional investors to reduce its ownership to 55 per cent from the current level of 85 per cent. Secondly, FPT will sell a maximum of 10 per cent of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO). According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about VND2.3-2.7 trillion (US$103-121 million) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services. At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth. HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year. According to HSC, the IPO price has not been determined as…... [read more]

After having missed the deadline numerous times, PetroVietnam Oil Corporation (PV Oil), a member of Vietnam's oil and gas group PetroVietnam, has yet to release the specific time for its initial public offering (IPO), according to newswire Saigontimes. The petroleum deal of the year was put on ice with no deadline in sight (Illustration) According to the initial plan, PV Oil will conduct its IPO by the end of June, selling a 49 per cent stake for strategic shareholders, employees, and other investors. At the time the plans were announced, there were 10 strategic investors, including major oil companies from Japan, South Korea, Thailand, Vietnam, and the Middle East, which have expressed interest in acquiring PV Oil stakes. PV Oil CEO Cao Hoai Duong told Bloomberg that the firm expects to earn $270 million by selling a 40 per cent stake to one or two strategic investors. However, the IPO was delayed in July and no more information has been published since. PV Oil’s IPO is considered an outstanding deal in the petroleum sector in Vietnam in 2017 due to numerous reasons. First, PV Oil’s main operation is the retail distribution of petroleum with the second largest market share in Vietnam (22-25 per cent), only behind Vietnam National Petroleum Group (Petrolimex), which holds a 55 per cent market share. Thus, acquiring PV Oil’s shares will pave the way for investors to join the potential…... [read more]

PV Oil misses IPO schedule againMinh Tam HCMC – PetroVietnam Oil Corporation (PV Oil), a major fuel trading arm of Vietnam National Oil and Gas Group (PetroVietnam), still cannot launch a much-awaited initial public offering (IPO) in July as scheduled, the second time it has missed the deadline in the past couple of months. At a conference in April, PV Oil considered launching its IPO in late June, as announced on its official news website, PV Oil News. Later, Cao Hoai Duong, general director of PV Oil, told the news agency Bloomberg that the IPO might be postponed until July. However, there is still no more information about the plan until now.  PV Oil is the second largest fuel trader in Vietnam with a market share 22%, just behind Vietnam National Petroleum Group (Petrolimex) with a market share of nearly 50% and about 2,500 gas stations. The IPO plan by PV Oil has drawn great interest from the public and potential investors due to three key reasons. Firstly, Petrolimex, the country’s leading fuel trading firm, has conducted its IPO since April and sold more than 8% of shares for Japanese firm JX Nippon Oil & Energy Secondly, unlike Petrolimex who can sell only 20% of its shares for foreign investors, PV Oil is allowed by the Government to sell up to 65% of its shares for strategic investors, employees and the public. The state will hold only 35% after the equitization. PV Oil’s IPO plan is to sell 49% of…... [read more]




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