Vietnam’s Masan Consumer Mulls Up to $1 Billion Stake Sale Ahead of IPO
The company is keen to onboard a pre-IPO investor that could take a 15% to 20% stake in its business
- Masan Consumer, a Vietnamese food and beverage company, plans to sell a minority stake for up to $1 billion.
- The company aims to secure a pre-IPO investor, taking a 15% to 20% stake, before its Vietnam listing in the second quarter of next year.
- Masan’s IPO was delayed due to global market volatility after tariffs; a recent trade deal has improved investor sentiment.
Vietnamese conglomerate Masan Consumer is planning to sell a minority stake for up to $1 billion ahead of its initial public offering, people familiar with the situation said.
The food-and-beverage company, one of the biggest private enterprises in Vietnam, is keen to onboard a pre-IPO investor that could take a 15% to 20% stake in its business, the people said.
Masan Consumer aims to secure the investment ahead of its Vietnam listing, now slated for the second quarter of next year, the people said.
The pre-IPO investment plans are still in the early stages, and a deal may or may not happen, they said.
Masan Group, the company’s majority owner, didn’t respond to requests for comment.
The IPO was postponed in late April amid global market volatility following President Trump’s “Liberation Day” tariff announcements, The Wall Street Journal reported previously, citing people familiar with the matter.
Vietnam was among the hardest hit by the Trump administration’s trade policy, which had originally threatened a 46% tariff on the Southeast Asian country. Over $100 billion worth of goods are exported from Vietnam to the U.S., including products for brands like Nike and Samsung.
A deal struck in July brought the tariff rate on Vietnam’s exports down to 20%, and set a 40% duty on goods from other countries that pass through on the way to the U.S. The clarity soothed some investor concerns, and sentiment in the local equity market has been rebounding. The main index gained about 22% over July and August, after dropping nearly 7% in April. Year-to-date gains stand at 31%.
One person familiar with the process said having a pre-IPO investor could help the company market the offering more effectively in terms of valuations.
Deal activity in Asia has been on the rise, fueled by renewed investor confidence as tariff clouds clear. A recent rate cut by the Federal Reserve has buoyed expectations of further easing ahead, adding to the risk-on mood.
The pickup in IPOs in Southeast Asia after a prolonged lull has been led by Singapore and Malaysia, which have been among the top destinations for companies looking to raise funds or bring on investors.
Late last year, Masan Consumer, which trades on the unlisted securities trading system of the Hanoi Stock Exchange known as UPCoM, announced its intention to list on the main board of the Ho Chi Minh Stock Exchange.
Established in 1996, Masan Consumer is a major fast-moving consumer goods company that produces and distributes a wide range of items, including instant noodles, coffee, sauces, and drinks. According to its website, it operates the largest distribution network in Vietnam and exports to more than 15 countries.
The consumer giant is nearly 70%-owned by Ho Chi Minh-listed Masan Group, whose businesses span retail to financial services, mineral resources and chemical processing.