Finance last week: 345 million USD poured into The CrownX, Kido poured more than 1,250 billion USD into Vocarimex

3 min read

Masan and SK Group pour 345 million USD into The CrownX

Masan Group Joint Stock Company (HoSE: MSN) and SK Group have just announced the signing of an agreement to buy back shares of The CrownX with a total cash value of USD 345 million.

Accordingly, SK Group invested $340 million in The CrownX, Masan invested $5 million. After the transaction, Masan and SK’s ownership ratio in The CrownX reached 85% and 4.9%, respectively. In which, Masan plans to further increase its ownership rate at The CrownX.

Masan aims to close the fundraising round in The CrownX with a value of 200-300 million USD before the end of 2021.

Masan’s side said that after successfully improving profits at WinCommerce and recording a first net profit at this retail chain in the third quarter, specifically reaching VND 137 billion, the group plans to expand the mini-mall model in The CrownX, part of the Point of Life strategy.

It is known that this is the strategy of integrating WinMart+, Phuc Long kiosk, Phano pharmaceutical and Techcombank into one platform.

Paying trillions to SCIC, Kido raised its ownership in Vocarimex to over 87%

Recently, in an auction of more than 44.2 million shares of Vietnam Vegetable Oil Industry Corporation (Vocarimex, UPCoM: VOC) owned by the State Capital Investment Corporation (SCIC), the company Kido Group Joint Stock Company (HoSE: KDC) has successfully bought the whole lot of shares for more than 1,255 billion VND, equivalent to 28,400 VND/share.

This price is about 22% lower than the market price of VOC on the stock market.

Kido officially raised its ownership rate in Vocarimex from 51% to 87.29%, on the contrary, SCIC left the shareholder seat of this oil company after many unsuccessful divestments.

Reportedly, the divestment of state capital at Vocarimex is the bottleneck in the merger of Tuong An Vegetable Oil Joint Stock Company (HoSE: TAC) into Kido Group. The policy of merging into the parent company was submitted to the Annual General Meeting of Shareholders by Dau Tuong An in mid-2020, but the meeting could not resolve this issue.

Cam Ranh Port is about to trade on HNX, offering price is 28,100 VND/share

The Hanoi Stock Exchange (HNX) has just announced the first trading day and reference price when listing CCR shares of Cam Ranh Port Joint Stock Company.

Accordingly, on November 19, more than 24.5 million CCR shares will be traded for the first time on the HNX with a reference price of 28,100 dong/share, corresponding to a market capitalization of about 700 billion dong.

Previously, this stock was unregistered for trading on UPCoM on November 10, and 9/11 was the last trading day. Notably, right in the last trading session at UPCoM, this stock hit the ceiling price by 14.8% to 34,200 VND/share.

Ministry of Finance speaks out, HHV “widens the road” to move listing to HoSE?

The Department of Corporate Finance (Ministry of Finance) has just sent a document to Deo Ca Transport Infrastructure Investment Joint Stock Company (UpCOM: HHV) on removing shortcomings in the allocation of loan interest expenses of BOT projects.

In the document, the Department of Corporate Finance said that the allocation of interest expenses in the period as proposed by HHV is in accordance with BOT contracts, credit contracts and annexes of the company signed with capital financing banks. The Department of Corporate Finance agrees with the financial mechanism on the allocation of interest expenses in accordance with the specifics of the investment sector with specific characteristics related to BOT projects.

The Department of Corporate Finance also said that at present, the General Department of Taxation is studying the characteristics of BOT project enterprises to consider and supplement guidance on the financial mechanism and accounting for the allocation of loan interest expenses. into legal documents to ensure compliance with relevant laws and the actual arising situation of enterprises.

Previously, implementing the resolution of the annual general meeting of shareholders in 2021, Quao Dai Transport Infrastructure Investment Joint Stock Company submitted the application for exchange transfer for HHV shares from registering for trading at UPCoM to listing at HoSE.

Source: – Translated by