Daughter of Masan Group chairman plans to spend $30-plus mln on MSN shares
Nguyen Yen Linh, daughter of Masan Group chairman Nguyen Dang Quang, has plans to spend at least $30 million on acquiring 10 million shares of the group, listed on the Ho Chi Minh Stock Exchange as MSN.
Linh will buy the shares via order-matching and/or put-through transactions from October 29 to November 18, HCMC-based Masan Group, one of the top consumer goods producers and retailers in the country, said in a filing to the bourse on Thursday.
A family picks Masan-branded products at a WinMart supermarket. Photo courtesy of Masan Group.
MSN shares closed on Friday at VND77,200 ($3.04) apiece. At this price, Linh will have to spend some VND774 billion ($30.4 million) on the shares.
If successful, she will raise her holding in the group to 0.66% from zero currently.
Quang, Linh’s father, now holds 18 MSN shares. He is chairman and CEO of Masan JSC, which owns a 31.19% stake in Masan Group. In addition, Quang holds nearly 19 million shares of Techcombank (HoSE: TCB) and over 30,000 shares of Masan Consumer Holdings (UPCoM: MCH).
According to Forbes, Quang has a net worth of $1.2 billion and is the sixth-wealthiest person in Vietnam.
Meanwhile, Nguyen Hoang Yen, Linh’s mother, owns a 3.36% stake in Masan Group.
Masan Group said on Thursday that it earned a consolidated net profit of VND701 billion ($21.6 million) in Q3/2024, up 1,349% year-on-year. Its net revenue increased 6.6% to VND21,487 billion.
Notably, WinCommerce, which runs the network of WinMart supermarket and WinMart+ convenience stores, reported a net profit of VND20 billion ($787,250) in Q3, the first profit since Covid-19. Its revenue reached VND8,603 billion in Q3, up 9.1% year-on-year.
As of September, WinCommerce operated 3,733 stores, an increase of 60 from Q2.
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