Masan Group becomes Vissan’s strategic investor
At the price of VND126,000 per share, all 11.3 million shares for the strategic investor of Vissan now belong to Anco International Agricultural Nutrition JSC, a subsidiary of Masan Group.
On March 24 morning the Vietnam Livestock Technology Industry Ltd. (Vissan) successfully auctioned 11.3 million shares for the strategic investor in HCM City.
The highest price was offered by Anco, with VND126,000 per share, followed by Proconco with VND125,000 and CJ Vietnam with VND120,600 per share.
Anco was the winner, holding the entire 11.3 million shares worth VND1,424 billion. Both Anco and Proconco are subsidiaries of Masan Group.
Earlier, at the IPO (initial public offering), Vissan attracted many investors, with the average price of VND80,000 per share, bringing VND906.8 billion for Vissan, exceeding its expectations. The highest price reached VND102,000, 6 times higher than the starting price of VND17,000 per share.
According to the equitization plan at Vissan, the State holds 65% of the capital, 14% for the strategic investor (11.3 million shares), 14% for public auction, and the remaining 7% for the staff and the trade union.
Vissan is one of the leading enterprises of Vietnam’s food industry, specializing in production and trading of fresh, frozen meat and foods processed from meat.
As a subsidiary of the Saigon Commercial Corporation (Satra) with the 45-year brand in the market, Vissan has 130,000 points of sale across the country. Vissan products are distributed at more than 1,000 supermarkets, convenience stores in Vietnam and also exported to many countries in the world.
Vissan earns average revenue of VND4,500 billion and profits of more than VND150 billion annually and its average annual growth rate is 10.2%.
Anco is an animal feed business that was founded in 2001 with two Vietnamese shareholders. By 2003, the company had three more shareholders from Malaysia with 61% stake. In 2014 Anco achieved total production capacity of 750,000 tons and was one of the largest animal feed producers in Vietnam, besides CP Vietnam.
After two auctions, Vissan earned VND2,333 billion.
Son Tung, VNN