Masan to open Singapore rep office

The director board of Masan Group (MSN) has approved the opening of a representative office in Singapore.

Accordingly, the company’s authorized Chair of Director Board, Nguyen Dang Quang, and/or the General Director, Madhur Maini, have also been empowered to decide issues relating to the establishment of representative office.

These assignees will select the place to build office, issue operation contents and appoint the chief of the representative office in Singapore.

Kohlberg Kravis Roberts (KKR) last month accepted to buy 10 percent stake into Masan Consumer at the price of $159 million.

Under the issuing plan, the total issuance volume would be 14.44 million shares, equaling to over $11 (VND220,000) per share, 1.5 fold higher than the trading price of Masan Consumer's shares on OTC market and equaling to the P/E at 22 times basing on the EPS in 2010.

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