South Korea’s leading conglomerate, SK Group, has successfully transferred 76 million shares of Masan Group, owned by billionaire Nguyen Dang Quang, through a negotiated transaction.

On November 1, Masan Group (MSN) announced that SK Investment Vina I Pte. Ltd. (SK Group) had completed the transfer of 76 million shares via a negotiated deal.

Following the transaction, SK Group’s ownership in Masan Group is now 3.67% of its charter capital, no longer classifying SK as a major shareholder. This transaction is significant in the context of shares that have not yet reached foreign ownership limits (non-FOL) in Vietnam.

The deal reflects strong global investor interest in Masan’s story in particular and in Vietnam’s stock market and economy in general.

According to Masan, the transaction was led by large institutional investors with long-term investment views based in Asia, Europe, and the U.S. The remaining SK shares in Masan are subject to standard transfer restrictions, maintaining stability in Masan’s shareholder structure as the company continues to drive growth and execute strategic initiatives.

Jefferies Singapore Ltd served as financial advisor and underwriter for SK Group’s share offering in the international market, while VietCap acted as broker for the transaction.

Previously, in September, SK Group extended the exercise period for its put option with Masan Group for up to five more years.

SK Group became a major shareholder in Masan in 2018 and held an option to sell its shares to MSN in 2024. At that time, SK Group invested 530 billion won (nearly 11 trillion VND) to acquire a 9.5% stake in Masan.

In Q3 2024, Masan reported a net profit of 701 billion VND, a 15-fold increase year-on-year, fueled by strong growth in its retail and consumer businesses and reduced net interest expenses.

Over the first nine months of the year, Masan achieved 1.308 trillion VND in net profit after tax attributable to minority shareholders, surpassing 130.8% of the full-year target approved by shareholders at the beginning of the year.

Manh Ha