A CMC data centre (Photo courtesy of CMC)Hanoi (VNS/VNA) - Technology group CMC will sell 25 million shares to anarm of Samsung SDS, a subsidiary of the Korean tech giant SamsungGroup.
CMC hopesthe shares will be sold for at least 30,000 VND (1.29 USD) per share, thecompany would raise 750 billion VND (32.25 million USD) from the deal.
Sixty percentof the capital raised, or 450 billion VND, will be invested in CMC’smember companies.
The remainingcapital will be spent improving the firm’s infrastructure and facilities.
The buyercould be either Samsung SDS Co Ltd or Samsung SDS Asia Pacific Pte Ltd.Both are members of Samsung SDS, which is the IT and logistics arm of the SamsungGroup.
SamsungSDS will own a 25 percent stake in CMC’s capital after the deal.
CMC islisted on the Ho Chi Minh Stock Exchange with the code CMG.
Thecompany shares inched up 0.5 percent on July 11 to close at 37,400 VND pershare.
CMC'sshares have gained 77 percent in the last eight months, bringing the group’smarket value to 2.68 trillion VND as of the end of trading on July 11.
CMC andSamsung SDS started cooperating in 2016. In June 2018, the two sides agreed CMCwould develop a management and operation system for more than 200Samsung factories in Vietnam.
In lateMay 2019, Samsung SDS and CMC signed agreements on the provision smart factory,cloud, cyber security and blockchain solutions.
Theagreement demonstrated the quality of Vietnamese technology businesses asthe country strives to take full advantage of Industry 4.0.
Thedeal is part of CMC’s effort to achieve 1 billion USD in revenue by2023.
Accordingto Samsung SDS Chairman and CEO Won Pyo-hong, CMC may help the Korean firmexpand its business in Vietnam and Southeast Asia.
“The cooperationbetween CMC and Samsung SDS will offer a great value in the development of thedigital economy for Vietnam and help the country reach out to the Asia-Pacificand global markets,” CMC Chairman Nguyen Trung Chinh said.
In earlyApril, CMC launched the first open ecosystem for enterprises in Vietnam to helphasten the digital transformation among local companies and governmentagencies, which has been a priority for the Government.
In March,CMC raised 300 billion VND from issuing corporate bonds to the Joint StockCommercial Bank for Investment and Development of Vietnam (BIDV).-VNS/VNA
CMC hopesthe shares will be sold for at least 30,000 VND (1.29 USD) per share, thecompany would raise 750 billion VND (32.25 million USD) from the deal.
Sixty percentof the capital raised, or 450 billion VND, will be invested in CMC’smember companies.
The remainingcapital will be spent improving the firm’s infrastructure and facilities.
The buyercould be either Samsung SDS Co Ltd or Samsung SDS Asia Pacific Pte Ltd.Both are members of Samsung SDS, which is the IT and logistics arm of the SamsungGroup.
SamsungSDS will own a 25 percent stake in CMC’s capital after the deal.
CMC islisted on the Ho Chi Minh Stock Exchange with the code CMG.
Thecompany shares inched up 0.5 percent on July 11 to close at 37,400 VND pershare.
CMC'sshares have gained 77 percent in the last eight months, bringing the group’smarket value to 2.68 trillion VND as of the end of trading on July 11.
CMC andSamsung SDS started cooperating in 2016. In June 2018, the two sides agreed CMCwould develop a management and operation system for more than 200Samsung factories in Vietnam.
In lateMay 2019, Samsung SDS and CMC signed agreements on the provision smart factory,cloud, cyber security and blockchain solutions.
Theagreement demonstrated the quality of Vietnamese technology businesses asthe country strives to take full advantage of Industry 4.0.
Thedeal is part of CMC’s effort to achieve 1 billion USD in revenue by2023.
Accordingto Samsung SDS Chairman and CEO Won Pyo-hong, CMC may help the Korean firmexpand its business in Vietnam and Southeast Asia.
“The cooperationbetween CMC and Samsung SDS will offer a great value in the development of thedigital economy for Vietnam and help the country reach out to the Asia-Pacificand global markets,” CMC Chairman Nguyen Trung Chinh said.
In earlyApril, CMC launched the first open ecosystem for enterprises in Vietnam to helphasten the digital transformation among local companies and governmentagencies, which has been a priority for the Government.
In March,CMC raised 300 billion VND from issuing corporate bonds to the Joint StockCommercial Bank for Investment and Development of Vietnam (BIDV).-VNS/VNA
VNA
