SK Investment is about to sell nearly 51 million Vingroup shares

(Dan Tri) - SK Investment Vina II Pte.Ltd. will reduce its ownership ratio at Vingroup from 6.05% of equity to 4.72%, no longer a major shareholder but still an important partner.

According to information announced by Vingroup Corporation (stock code: VIC), today (January 10), SK Investment Vina II Pte.Ltd. has notified the authorities and the public about the plan to transfer shares at Vingroup.

Specifically, SK Investment (Singaporean nationality) plans to sell about 50.86 million VIC shares of Vingroup between January 16 and February 14 for the purpose of restructuring its investment portfolio.

Accordingly, this organization will reduce its ownership ratio at Vingroup from 6.05% of the charter capital to 4.72% (equivalent to 180.61 million VIC shares), no longer being a major shareholder of Vingroup. The transaction is expected to be carried out by negotiation.

Price fluctuations of Vingroup's VIC stock over the past month (Screenshot).

"As far as we know, SK's share sale this time is part of its strategy to re-plan its partner's investment portfolio in international markets in general. SK still expresses its confidence in the potential of the Vietnamese market in general and Vingroup in particular with diverse business opportunities and leading position in most business areas" - Mr. Nguyen Viet Quang - Vice Chairman of the Board of Directors and General Director of Vingroup Corporation shared.

The group's leader said that for Vingroup, SK is still an important partner. The two sides are still discussing a number of cooperation opportunities to maximize development potential in the coming time.

"In the context that the Vietnamese economy has undergone a spectacular recovery period after Covid-19 and is preparing for strong acceleration in 2025, Vingroup is always proactive in preparing resources, optimally managing cash flow, and taking advantage of capital mobilization opportunities from domestic and international markets when conditions permit in order to develop sustainably," Mr. Quang added.

In May 2019, Vingroup and SK Group signed a strategic cooperation agreement. Accordingly, SK invested about VND23,300 billion (equivalent to USD1 billion) to buy Vingroup shares and become a strategic partner of the group.

Under the cooperation agreement, SK Group registered to buy 154.3 million privately issued shares from Vingroup and acquired 51.4 million VIC shares owned by VinCommerce (now WinCommerce owned by Masan Group).

SK Group's total ownership after the above transaction was 205.7 million VIC shares, equivalent to 6.15% of the group's charter capital. With an average price of VND113,000 per share at that time, the total transaction value was about VND23,300 billion.

Last September, Masan spent $200 million to buy back 7.1% of Wincommerce shares from SK Group. By November 2024, SK had also completed the transfer of 76 million MSN shares, reducing its ownership ratio at Masan to 3.67%, below the level of a major shareholder.

Source: https://dantri.com.vn/kinh-doanh/sk-investment-sap-ban-gan-51-trieu-co-phieu-vingroup-20250110182636662.htm