The most outstanding capital transfer affairs in 2017
Many records related to capital transfer affairs were broken in 2017.
1. The stake sale deal with a record-high value of nearly US$5 billion was made in the last month of the year. 53.6% of SAB, the Vietnamese largest brewer, was sold at an auction.
One individual bought 20,000 shares at VND320,500 per share and one institution – Vietnam Beverage — got all the remaining shares at VND320,000 per share. VND320,000, in some analysts’ eyes, was an ‘unreasonably high’ price.
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2. The sale of Vinamilk shares (VNM) was considered the biggest business deal until the Sabeco share auction was carried out.
At the first auction, SCIC sold 78.38 million VNM at VND144,000 per share, collecting nearly US$500 million. At the second auction, SCIC sold 3.33% of VNM to Platinum Victory at VND186,000 per share.
VNM price has been increasing steadily since then, having hit the VND205,000 per share threshold, or 70.8% higher than earlier this year.
3. The Vincom Real share (VRE) sale took place on November 7, when 415 million VRE were transferred, worth VND16.849 trillion, or US$743 million. This is the largest secondary stake offer to foreign investors so far.
The buyers included nine major institutional investors, including Avanda Investment Management Pte, Dragon Capital, Genesis Investment Management LLP, GIC Pte, HSBC Asset Management (UK), Karst Peak, RWC Asset Advisors (US), Templeton Investments and TT International.
The sellers included Credit Suisse AG which sold 65 million shares, and WP Investments III B.V. belonging to Warburg Pincus which sold 195 million shares.
This was the first time the secondary shares of a Vietnamese business were offered for sale in accordance with Standard 144A - a rigorous offering standard for QIBs investors in the US.
4. Before listing its shares on the HCM City bourse, Vietjet offered to sell 48.3 million shares, or a 16.1% stake.
According to Reuters, 44.8 million shares were sold to institutional investors at VND84,600 per share and 3.5 million shares to individuals at VND86,500 per share in a deal worth VND4.09 trillion.
About 30 international institutions ordered to buy Vietjet shares, including large investment funds GIC, Morgan Stanley, Mirae Asset, Dragon Capital and VinaCapital.
5. VP Bank made a record in trading value on its debut day August 17, when 58.3 million VP Bank shares were sold, worth VND2.255 trillion.
One month after listing shares on HOSE, VP Bank issued 164.7 million shares to three investors, a deal which helped the bank raise charter capital from VND14 trillion to VND15.7 trillion.
