Masan’s meat unit to list 324 million shares at VND80.000 a piece

The step in enable the company to promote transparency for shareholders. The UpCoM listing of MML shares will also facilitate an initial public offering on the Ho Chi Minh City bourse in 2022-23.

The listing is also consistent with Masan Group’s overall strategy to list all subsidiaries on major exchanges to bring benefits to shareholders.

Masan MEATLife, formerly known as Hoa Kim Ngan Company, was established in 2011 with a charter capital of VND10 billion ($428.000). Now, the company has a charter capital of VND3,243 billion ($139 million).

Starting out as the country’s leading animal feed company with BioZeem, a leading brand, Masan MEATLife has shifted its focus to the branded chilled meat business as consumer goods.

The company has entered the branded meat sector since 2014. Its major competitors are Cargill, C.P Vietnam, Greenfeed, Anova Corp, Dabaco, De Heus ...

Masan has sold 1.8 million Masan MEATLife shares to investors for VND135 billion ($5.82 million) but retains nearly 80 per cent of the company’s shares.

In 2018, the company reported revenue of $598 million, down 43% from the previous year while after-tax profit was reported at $4.1 million, down 94% from the record profit of 2016.

During the first 9 months of 2019, the company recorded after-tax of $13.9 million, exceeding 20% of profit plan.

It targets to become the No. 1 branded meat brand in Vietnam by 2022, with 10% of the market share. Annual profit is projected at $200 - $450 million.

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