return icon

Masan plans $77m share buyback

 VietNamNet Bridge – Masan Consumer Holding, the consumer goods arm of Masan Group (MSN), plans to spend VND1.62 trillion to buy back 18 million shares of the company by the end of this year.

VietNamNet Bridge – Masan Consumer Holding, the consumer goods arm of Masan Group (MSN), plans to spend VND1.62 trillion (US$76.8 million) to buy back 18 million shares of the company by the end of this year.


The deal will be carried out from December 2-31 through Viet Capital Securities Co. — Photo vinacorp




The price is expected to be VND90,000 ($4.27) per share, which would raise the group's market capitalisation to more than VND47.8 trillion ($2.26 billion). The buyback is equivalent to 3.39 per cent of the company's outstanding shares.

The deal will be carried out from December 2-31 through Viet Capital Securities Co.

As of June, Masan Consumer had nearly VND4.14 trillion ($196.2 million) in cash. The company plans to use its surplus capital of VND5.1 trillion ($241.7 million) to fund the purchase.

Masan Group is currently its biggest stakeholder with a holding of 76.85 per cent. After the deal, MSN holdings are expected to increase to 79.55 per cent.

Early this month, Masan Consumer announced a public tender to buy 49 per cent of food producer Cholimex Food Joint Stock Co. The deal is expected in the last quarter of this year or the first quarter of next year.

With shares priced at VND90,000, the company will pay VND375 billion ($17.8 million), 21 times Cholimex Food's 2013 earnings. Cholimex Food is valued at VND730 billion ($34.6 million).

In a move to spend cash, Masan Consumer announced in April that it would spend VND5.8 trillion ($274.9 million) to pay cash dividends for last year's earnings and part of this year's payout.

In the last four years, the consumer foods company reported a net profit of over VND1 trillion ($47.4 million) each year but has never paid dividends.

In 2013, Masan Group earned a net profit of VND3.1 trillion (nearly $147 million). This year, it has set a revenue target of VND16-17 trillion ($758-806 million) and an after-tax profit of VND3.75-4.25 trillion ($178-201 million).



Ngoc Linh ginseng helps Central Highlands locals out of poverty

Growers in the Central Highlands provinces dreamed of escaping poverty when they planted Ngoc Linh ginseng which has made an economic contribution to improving local farmers’ living conditions.

Soc Trang’s Khmer pagoda features giant Buddha statue

With the long-standing bonds of the Kinh, Khmer, and Hoa ethnic groups, Soc Trang boasts a special cultural identity that makes it an outstanding spiritual destination for tourists and Buddhist followers from far and wide.

Smart-homes getting cheaper in Vietnam

In Vietnam, a smart-home installation package costs VND14-25 million.

Vietnamese nationals account largest proportion of Japan’s foreign worker population

Vietnamese nationals account for 25.4% of the total 1.82 million foreign workers who were working in Japan as of the end of October last year, according to the Japanese Ministry of Health, Labour and Welfare (MHLW).

Mekong Delta develops more OCOP products

The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme.

Major Vietnamese paintings worth millions of dollars at global auctions

2022 represented a successful year for the Vietnamese painting market as three more pieces were auctioned at more than US$1 million each, bringing the total number of valuable paintings to 19. Let’s take a closer look at some of them.

Vietnamese American singer brings Tet Holiday joy to disadvantaged children

In hope to bring the children who lost their parents because of Covid-19 a warm spring holiday, Vietnamese American singer Ha Phuong spent a day to enjoy Tet with them.

How will the economy fare in 2023?

Vietnam’s economy had a prosperous year in 2022 with GDP growth rate of 8.02 percent, a one-decade high.

Female Vietnamese badminton star Thuy Linh placed 50th in world rankings

Vietnamese badminton star Nguyen Thuy Linh has risen to 50th position in the world’s latest singles women rankings, according to the Badminton World Federation (BWF).

Phin Ho ‘shan tuyet’ tea –specialty of Ha Giang

Apart from stilt houses and seemingly endless terraced paddy fields, “shan tuyet” tea, a famous specialty of Phin Ho village, is one of the special things visitors cannot forget once setting foot in Tay Con Linh Mountain in Ha Giang.

Discovering art of making vegetarian dishes in Tay Ninh

Religions and beliefs have made considerable contributions to the culinary culture of Tay Ninh.

Hoi An, HCM City among world's top 25 trending destinations in 2023: TripAdvisor

Germany’s famous travel site has run an article highlighting the world’s top 25 trending destinations for 2023, including Vietnam’s Hoi An ancient city and Ho Chi Minh City, recently voted by readers of TripAdvisor.

Make-in-Vietnam sleeping machine developed by professor

FRENZ Brainband helps users have faster, tighter and deeper sleep. It can also be used for relaxing and enhancing concentration when working.

Paris Agreement: Lessons on independence, self-reliance, int’l solidarity

The signing of the Paris Agreement on ending the war and restoring peace in Vietnam on January 27, 1973, was a resounding victory of Vietnam’s revolutionary diplomacy in the Ho Chi Minh era.

PM: Lunar New Year comes with new energy

Prime Minister Pham Minh Chinh chaired a meeting of permanent Cabinet members in Hanoi on January 27, speaking of new energy of the nation following Tet (Lunar New Year), the biggest festival in Vietnam.