Masan is operating 3,500 supermarkets and convenience stores nationwide. (Photo: VNA) The investment would be in the form of convertibledividend preference share at a price of 85,000 VND (3.5 USD) per share whichcan be converted into ordinary shares at a 1:1 conversion ratio, Masan said ina statement, adding that proceeds would be used to strengthen its financial positions.
Danny Le, General Director of Masan Group, saidMasan wishes to cooperate with Bain Capital to promote its vision in which consumersare put at the centre, thus becoming a platform serving their daily needs.
Barnaby Lyons, a leader of Bain Capital, noted hisbelief that Masan has many solid foundations, and a suitable vision and growthstrategy to succeed in an attractive and fast-growing consumer market.
Vietnam has been regarded as the fastest-growingconsumer market in Southeast Asia in the 2022-2040 period, with an estimatedannual rate of 7.7%, which is attributable to its rapid urbanisation and therising number of consumers with higher income and more diverse needs.
Masan said it expects that the transaction will becompleted in 2023 and it will continue to seek other strategic equitysolutions, including reducing the proportion in non-core business andincreasing liquidity./.
VNA
