Masan hopes to raise $1 bln from feed unit stake

, Masan hopes to raise $1 bln from feed unit stake

Conglomerate Masan is hoping to raise up to $1 billion by selling a stake in its animal feed unit Masan MeatLife Corp.

The group is also mulling a possible initial public offering for the unit, people familiar with the matter told Bloomberg.

Shares of Masan MeatLife (MML) on the Unlisted Public Company Market (UPCoM) rose 6.3 percent Friday to a new peak this year of VND62,000.

A $1 billion deal would be Vietnam’s biggest since 2017, when Vietnam F&B Alliance Investment JSC bought a 54 percent stake in Saigon Beer Alcohol Beverage (Sabeco) for $4.4 billion, according to data compiled by Bloomberg.

Masan was founded in 1996 and is known for its Chin Su chilly sauce and Nam Ngu fish sauce. The company also has interests in retail and mining.

This article was originally published in Vnexpress

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