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|Masan MeatLife will be listed on UpCoM on December 9|
Masan MeatLife (code: MML) has just announced plans of listing on the UpCoM on December 9. Accordingly, the company will offer about 324.33 million stocks with the unit price of VND80,000 ($3.48).
Currently, 91.68 per cent of its shares are held by local investors, including Masan Group’s 79.32 per cent and Masan Vision Ltd.’s 7.95 per cent. The remaining 8.32 per cent is held by foreign investors.
Masan MeatLife’s meat value chain is completed under the 3F model with 10 cattle-feed manufacturers operating at the capacity of 3 million tonnes a year. The annual output of its high-tech farm in the central province of Nghe An is 230,000 pigs, while its meat processing factory in the northern province of Ha Nam can process 1.4 million pigs.
The company’s target towards 2022 is to become the leading brand in cooled packaged meat in Vietnam and occupy 10 per cent of the local market with a revenue of $1.5-3 billion. The after-tax profit will reach about $200-450 milion.
In 2019’s first nine months, Masan MeatLife reported VND10.104 trillion ($439.3 million) in revenue and VND324 billion ($14 million) in after-tax profit.
In 2020, Masan MeatLife set the target of VND24.982 trillion ($1.1 billion) in revenue and VND1.881 trillion ($81.78 million) in after-tax profit, up 84.5 and 596.67 per cent on-year, respectively.
|On December 3, Vingroup and Masan reached an agreement about merging Vincommerce JSC, which operates Vinmart supermarkets and Vinmart+ convenience stores, and VinEco Ltd. specialised in agricultural manufacturing, into Masan Group. In the latest press release about the M&A deal, Vingroup did not disclose its current ownership rate in the two companies but said it is not as high as before. This means the conglomerate will mainly focus on technology and industry.|