SK Telecom (Photo Courtesy of SK Telecom)

 

 

[Alpha Biz= Kim Jisun] SK Group, once the largest shareholder among foreign investors in Vietnam's largest conglomerate Vingroup, is partially selling its stake and stepping down as a major shareholder.

According to Reuters and Vietnam's VNExpress, Vingroup announced on January 10 that SK Group, through its subsidiary SK Investment Vina II, has begun the process of selling a 1.33% stake in Vingroup. Based on Vingroup's current market price, the stake is valued at approximately 2.0598 trillion VND (around 120 billion KRW). The sale is set to be completed via an over-the-counter transaction by February.

Once the sale is finalized, SK Group's stake in Vingroup will decrease from 6.05% to 4.72%, removing SK from its position as a major shareholder. As of the end of 2023, SK was Vingroup's fourth-largest shareholder. Reports also indicate that Jeon Chae-ran, CEO of SK Southeast Asia Investment, who represented SK Group on Vingroup's board, has requested to resign from the board.

 

 

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