At the auction, Vissan offered to sell 11,328,002 shares, or 14 percent stake, at the starting price of VND80,100 per share to three strategic partners, comprising of the Vietnamese – French Cattle Feed Joint Stock Company (Proconco) which is also a subsidiary of Masan Group, South-Korean company CJ CheilJedang, and Anco.
Masan's animal feed subsidiary Anco bought 14 percent stake in Vissan for nearly VND1.43 trillion (US$63 million).
Earlier, Vissan raised nearly VND907 billion from selling 14 percent stake in IPO. Vissan has a chartered capital of over VND809 billion ($34.4 million), of which the Government owns a 65 percent stake, strategic partners have 14 percent, other investors have 14 percent, and its employees possess 7 percent. The company’s first shareholders’ meeting is scheduled to take place April 29 and it will start to operate in the joint stock model by June this year.