SK Group invested 1 billion USD in Vingroup

Vingroup (HOSE: VIC) and SK Group (South Korea) officially signed a strategic cooperation agreement. SK Group will invest about 23,300 billion dong

SK Group invested Vingroup




Vietnam News -Vingroup (HOSE: VIC) and SK Group (South Korea) officially signed a strategic cooperation agreement. SK Group will invest about 23,300 billion dong (1 billion USD) to buy Vingroup shares and will become a strategic partner of the Group.


SK Group registered to buy 154.3 million shares issued under the private offering plan from Vingroup and acquired 51.4 million secondary shares from VinCommerce, with an average price of 113,000 VND / share. The total trading value is about 23,300 billion dong, equivalent to 1 billion USD.

This strategic investment agreement affirms SK's trust in Vingroup and is a testament to the growth potential of Vietnam market in general and Vingroup's business fields in particular. The two sides intend to cooperate strategically to make the most of each party's strengths as well as improve the quality of services and products for customers.

Speaking at the signing ceremony, Mr. Woncheol Park, SK Southeast Asia Investment representative said: “We believe that cooperating with a market-leading enterprise like Vingroup to seek new business opportunities is strategic. Optimal for SK to grow in Southeast Asia. Moreover, we hope that the development of SK in Vietnam will contribute to the overall progress of Vietnam's economy. In this respect, we admire Vingroup and the Group's role in the Vietnamese economy. Through this strategic cooperation agreement, we hope to work closely with Vingroup to bring great value to both the Group and Vietnam in general. ”


See more: Securities trading will be permanently banned if price manipulation is violated many times


Mr. Nguyen Viet Quang, Vice President and General Director of Vingroup said at the signing ceremony: “We welcome SK to become a strategic partner of Vingroup. We believe that with SK's extensive experience as a leader in many of its business areas, solid management platform and technological achievements, SK will bring a lot of valuable experience. Helping Vingroup achieve new heights, especially in Industry and Technology ".

After signing the strategic cooperation, Vingroup and SK will complete legal procedures in accordance with the law including issuing shares and listing new issued shares on Ho Chi Minh City Stock Exchange.
 
 
Vietnam

SK is currently one of South Korea's largest multidisciplinary corporations, with areas such as telecommunications, technology, electronics, energy, logistics and services.

SK Group is the third largest multidisciplinary group in Korea by asset value. The Group was established in 1953 with 111 subsidiaries in many sectors including energy, chemicals, telecommunications, ICT, electronics and services. SK Group has business operations in more than 40 countries around the world with turnover of USD 132 billion and total assets of USD 184 billion by 2018.
 

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Breaking Vietnam news | Vietnam's #1 News Site | Viet-News.com: SK Group invested 1 billion USD in Vingroup
SK Group invested 1 billion USD in Vingroup
Vingroup (HOSE: VIC) and SK Group (South Korea) officially signed a strategic cooperation agreement. SK Group will invest about 23,300 billion dong
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