Private equity firm KKR & Co. sold its 54.8 million shares in Masan Group Corp. in an oversubscribed offering, raising roughly $209 million, Bloomberg News reported, citing unnamed sources.
Sources told Bloomberg that the shares were sold at 89,200 dong apiece, the midpoint of the offering's marketed range and a 5% discount to Masan's latest closing stock price.
Long-only funds and local investors participated in the offering, one source told Bloomberg, and the top five participating investors acquired roughly 85% of the offered stock.
According to the report, KKR acquired its stake in Masan for $100 million in April 2017 from PENM Partners, a Danish private equity firm.
A KKR representative was not immediately available for comment, according to Bloomberg.
As of Oct. 4, US$1 was equivalent to 23,315 Vietnamese dong.