Singapore’s GIC-led consortium no longer shareholder of Vinmart, Vinmart + chains' operator

Information from National Business Registration Portal shows that VCM Trade and Services Development, parent company of Vinmart, Vinmart + chains, has no foreign shareholders on February 12.  

Previously, VCM, which has charter capital of $26.4 million, had 16.26% stake owned by Singapore’s GIC-led investment group.

In September 2019, the consortium led by GIC spent $500 million for stake in the Vingroup’s retail unit. Through its subsidiary Ardolis Investment, GIC officially owned 9.75% of the capital in VCM, while Credit Suisse of Singapore branch owns 6.5%.

After a mega merger deal last year, Masan Group received 83.74% stake of VCM. In addition, Masan will issue options to receive shares in a newly established subsidiary company for Vingroup.

After the deal, Masan established a retail giant which was said the largest in Vietnam and Masan is a 70% shareholder of the new company.

Chairman Nguyen Dang Quang has directly assumed the role of Chairman of the Board of Directors of VCM Trade and Services Development Joint Stock Company and Chairman of the Board of VinCommerce General Trading Services Joint Stock Company.

Masan’s Chairman Nguyen Dang Quang took over as the chairman of VCM Services and Trading Development, a subsidiary of Vingroup that owns a 64.4 percent of VinCommerce, VnExpress cited information from Masan.

► Masan to hold 70% stake at retail giant merged with Vingroup’s retail arm

► Masan Group to hold almost 84% stake at VinCommerce's parent company

Source: NDH