Masan MEATLife lists on UPCoM

Tuesday, Dec 10, 2019 10:10

Phạm Trung Lam, CEO of Masan MEATLife, strikes the gong to mark the company’s listing on the UPCoM market in Hà Nôi on December 9. — Photo courtesy of Masan MEATLife

More than 324.3 million shares of Masan MEATLife Joint Stock Company (code: MML) were listed on December 9 on the UPCoM market at a reference price of VND80,000 (US$3.45) per share, making it to have initial market capitalisation of around VND26 trillion ($1.12 billion).

Nguyen Nhu Quynh, a member of the board of directors and deputy CEO of the Hanoi Stock Exchange, granted the listing decision to MML’s representative and said HNX would always support Masan MEATLife.

HNX expects Masan MEATLife to strictly follow securities and stock market regulations, especially those governing information disclosure, and transparency of financial situation and operational situation, he added.

Pham Trung Lam, CEO of Masan MEATLife, said: “As part of the strategy to transform into an FMCG with a high growth rate, listing Masan MEATLife’s shares on the UPCoM market reflects the long-term vision of the board of directors and the company’s management board.

“This is also the motivation for Masan MEATLife to improve the quality of corporate governance, increase transparency, open up opportunities for investors, and enhance the company's reputation in the market.”

Masan MEATLife, a subsidiary of Masan Group, formerly known as Masan Nutri Science Joint Stock Company, was established in 2015 with the mission of building a branded meat value chain to serve the country’s 100 million population.

During its four-year journey of development and outstanding growth, Masan MEATLife became the first company in Viet Nam to achieve a 3F (feed-farm-food) closed agriculture model on a large scale using modern methods.

Its MEATDeli brand is the first chilled meat brand in Viet Nam to meet European standards, and has nearly 20 million customers in Ha Noi and HCM City.

Besides, Masan MEATLife is the second largest company in the country in animal feed production.

On December 3, Vingroup announced the merger of VinCommerce and VinEco into Masan Group. This means that Masan has the largest retail system in Viet Nam including 2,600 Vinmart and Vinmart + supermarkets and stores.

The two sides are working closely together to ensure that each Vinmart + store will become a MEATDeli outlet. This will enable Masan MEATLife to have more than 4,000 MEATDeli chilled meat points of sale in all cities across the country by the end of 2020.

Masan MEATLife also plans to launch processed meat products to optimise profits.

The company has speeded up construction of its second meat processing complex in Long An Province and is expected to open the plant in the fourth quarter of 2020.

According to Lam, the pork market is huge with a value of $10 billion a year, but 99 per cent of the meat sold has no brand. Masan MEATLife has a great advantage as a pioneer in the branded meat product, bringing fresh, safe and reasonably priced meat products to millions of families. — VNS

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