The transaction value has not been disclosed. However, with NTP’s current market capitalization of VND6,500 billion (roughly US$286.6 million), the 15 per cent stake in the company is worth approximately VND1,000 billion (roughly US$44.1 million).
This is a part of 24 per cent stake that Thai investor Nawaplastic Industries (Saraburi) Co., Ltd. has divested from NTP.
Saraburi also owns 20 per cent stake in Binh Minh Plastics SJC which currently dominates the plastics market in the south of Vietnam.
Meanwhile, Sekisui Chemical has been a comprehensive partner of NTP since July 2017 via an agreement signed with NTP’s subsidiary in the south of Vietnam (Tien Phong Nam).
Under the cooperation agreement, Tien Phong Nam Company will take advantage of technology from Sekisui to produce and supply new high-performance products for Vietnamese consumers.
Sekisui Chemical is a leading Japanese company in the field of manufacturing and trading of water and environment sector products. Its revenue in 2016 reached US$10 billion.
Sekisui Chemical was the most potential partner to acquire the divested stake of Saburi from NTP.
In first nine months of 2017, NTP gained VND3,329 billion (roughly US$146.78 million) in revenue and over VND363 billion (roughly US$16.01 million) in after-tax profit. NTP’s shares were traded at the price of VND73,000 (roughly US$3.23) per share on October 19 on the Hanoi Stock Exchange.
