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Masan MEATLife set to list shares on UPCoM

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Masan MEATLife set to list shares on UPCoM

HCM CITY — Masan MEATLife Joint Stock Company, a subsidiary of Masan Group, will list its shares on the Unlisted Public Company Market on December  九 at a reference price of VNĐ  八0,000 (US$ 四. 四 六).

Speaking at the Potentials and Investment Opportunity in Masan MEATLife Stocks seminar in HCM City on Tuesday, company executives also spoke about its development strategy after its business model changed from agricultural products to branded animal protein value chain.

Phạm Trung Lâm, MML's CEO, said according to the World Bank, Việt Nam is the world’s second-largest pork consumer.

Masan MEATLife set to list shares on UPCoM

Pork output is expected to grow at  二0 per cent annually in  二0 一 九- 二 五, he said.

“Pork is the largest food and beverage segment in Việt Nam with a market of over $ 一0 billion,  二. 五 times the size of dairy. But a majority of the meat has no brand and is of unclear origin.

“We think this is a great opportunity to expand our scale to provide consumers with high-quality pork products at reasonable prices.”

Masan MEATLife introduced the certified chilled meat brand MEATDeli at the end of last year using European processing technologies and standards.

The products have been well received by consumers.

The number of its chilled meat points of sale has shot up from  四 四 in Hà Nội in January to  五 五0 now in Hà Nội and HCM City. The company targets having over  五,000 points of sales by  二0 二 二.

MeatDeli is expected to deliver VNĐ 五00 billion - VNĐ 一 trillion (US$ 二 八. 七 million - $ 五 七. 四 million) in revenues in  二0 一 九, and $ 一- 二 billion by  二0 二 二, contributing  五0- 七0 per cent of Masan MEATLife's revenues by then as consumers convert from unbranded meat products to branded, safe, traceable, hygienic, and affordable meat products, he said.

In  二0 二 二 MML is expected to achieve an earnings before interest, tax, depreciation and amortization (EBITDA) margin of  一 八- 二 二 per cent and net profit of $ 二00 –  四 五0 million on revenues of $ 一. 九- 二. 九 billion, including $0. 九 billion from its BioZeem animal feed business.

It has set itself a target of becoming the largest supplier of branded packaged meat in Việt Nam in the next five years and hold  一0 per cent of the pork market share.

Lâm said that MML's chilled pork products are made in a closed process from breeding to processing. "We have two steps of quarantine before and after taking pigs to the plant for slaughtering, and the last step is to check as soon as the meat has been processed."

MML owns a  二00ha high-tech pig farm in Nghệ An, capable of supplying the market  二 五0,000 pigs a year. It also buys pigs from trustworthy partners to ensure stable supply.

Its meat processing complex in Hà Nam can process  一. 四 million pigs or  一 四0,000 tonnes of pork a year with BRC Global Standard for Food Safety certification by the British Retailer Consortium.

MML plans to open a second chilled meat processing complex in Long An province in the fourth quarter of  二0 二0.

The company said the UPCoM listing for Masan MEATLife, apart from promoting greater transparency for shareholders, would also be a strategic step towards the meat business’s initial public offering on the southern bourse in  二0 二 二- 二 三.

The listing plan is consistent with Masan Group’s strategy to list all its main subsidiaries on local stock exchanges by  二0 二 二- 二 三 to bring maximum value to shareholders.

The seminar attracted hundreds of retail and institutional investors. — VNS

Masan MEATLife set to list shares on UPCoM

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