Masan Consumer, the food and beverage arm of Vietnam’s Masan Group, said on Thursday it will complete its listing on the Ho Chi Minh Stock Exchange (HoSE) this month to improve access to funding.
The $8.8 billion company is currently traded on Vietnam’s Unlisted Public Company Market, a platform for small-to-mid-sized firms.
Its shares have gained 25.6% so far this year, closing at 220,800 dong ($8.37) on Thursday, with a free float of 30%, according to LSEG data.
“Listing on HoSE will allow Masan Consumer shares to attract flows from ETFs and active funds, which was not possible on UPCoM,” said Nam Hoang, head of Vietcap Securities, the company’s advisor, at the roadshow event.
Masan Consumer posted third-quarter revenue of 7.5 trillion dong ($284.4 million), up 6% year-on-year, while net profit fell 19% to 1.7 trillion dong ($64.5 million).
The company, whose products include sauces, instant noodles, coffee and bottled drinks used by most Vietnamese households, expects to benefit from reduced U.S. tariffs on soybeans and wheat, key raw materials.
Vietnam’s main index has surged 36.7% year-to-date, boosted by an FTSE country classification upgrade that has spurred IPOs and accelerated listings on HoSE, even as foreign investors remain net sellers.
Reuters
