Home Companies

Masan (MSN) chairman takes over at Vietnam’s biggest retailer

Feb 19th at 14:00
19-02-2020 14:00:26+07:00

Masan (MSN) chairman takes over at Vietnam’s biggest retailer

Nguyen Dang Quang has taken over as the chairman of VinCommerce, owner of Vietnam’s biggest retail chain VinMart.

Masan chairman takes over at Vietnam’s biggest retailer

Quang, chairman and CEO of Masan, also took over as chairman of VCM Services and Trading Development Jsc, a subsidiary of Vingroup that owns a 64.4 percent of VinCommerce, Masan revealed this in a recent announcement about a bond issue.

VinCommerce Jsc, a subsidiary of conglomerate Vingroup, merged with Masan last December. Masan, a producer of sauces, beverages, instant noodles, and meat, owns an 83.74 percent stake in VCM.

Masan on Monday made a VND3 trillion ($128.8 million) public bond issue with a coupon rate of 9.3 percent for the first year and maturity of three years.

This is the first of four issuances the company has planned this year to raise VND10 trillion ($429.4 million) to increase its subsidiaries’ charter capital and retire debts.

It aims to achieve a 25 percent retail market share this year with over 3,000 outlets.

Masan’s revenues fell 2.2 percent last year to VND37.35 trillion ($1.6 billion).

Vnexpress

RELATED STOCK CODE (2)

NEWS SAME CATEGORY

SSI Securities to issue 83 million shares to pay dividends
COMPANIES Feb 19th at 09:11

SSI Securities to issue 83 million shares to pay dividends

SSI Securities Corporation (SSI) plans to issue nearly 82.89 million shares to pay dividends to shareholders at a rate of 16 per cent.

Kienlong Bank to sell 176 million shares of Sacombank (STB)
COMPANIES Feb 19th at 09:08

Kienlong Bank to sell 176 million shares of Sacombank (STB)

The Kienlong Commercial Joint-Stock Bank (Kienlong Bank) will put up more than 176.4 million shares of Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank)...

Vinaconex to gain $35.8 million from VCP shares
COMPANIES Feb 19th at 08:46

Vinaconex to gain $35.8 million from VCP shares

Vinaconex corporation has registered to divest all of its 16 million shares in Vinaconex Power Investment Construction and Development JSC.

Digiworld (DGW) sets sight on ambitious $443.5 million revenue target
COMPANIES Feb 17th at 16:39

Digiworld (DGW) sets sight on ambitious $443.5 million revenue target

Digiworld will submit its business plan for 2020 to shareholders at the annual general meeting on March 31.

Vinamilk CEO (VNM) takes chairmanship at GTNFoods
COMPANIES Feb 17th at 08:39

Vinamilk CEO (VNM) takes chairmanship at GTNFoods

Dairy firm Vinamilk’s CEO Mai Kieu Lien on Saturday was voted by GTNFoods JSC’s shareholders to become the chairwoman of the latter.

Vietnam Italy steel (VIS) fined for $6,000
COMPANIES Feb 15th at 13:52

Vietnam Italy steel (VIS) fined for $6,000

Vietnam Italy Steel JSC (VIS), which is backed by Japanese steel producer Kyoei Steel Ltd., has been applied a fine of VND140 million ($6,090) for violations of...

SSI Securities issues 15 million covered warrants
COMPANIES Feb 15th at 13:46

SSI Securities issues 15 million covered warrants

 SSI Securities Corporation (SSI) on Friday issued an additional 15 million covered warrants for five common stocks.

Korea Investment Management (KIM) acquires Vietnamese fund manager
COMPANIES Feb 14th at 08:21

Korea Investment Management (KIM) acquires Vietnamese fund manager

Korea Investment Management has been approved to acquire all of the shares issued by local Hung Viet Fund Management JSC.

Sabeco (SAB) streamlines operations fueled the profit
COMPANIES Feb 14th at 08:19

Sabeco (SAB) streamlines operations fueled the profit

Sabeco recorded a drop in revenue in the fourth quarter while generating a rise in after-tax profit thanks to optimising expenses and raising the price of its...

REE to make first 2019 dividend payment in April
COMPANIES Feb 12th at 09:51

REE to make first 2019 dividend payment in April

 Refrigeration Electric Engineering Co (REE) will make its first cash dividend payment for 2019 at the rate of 16 per cent cash in April 2020.

Read More

MOST READ

Back To Top