Billionaire duo Nguyen Dang Quang – Ho Hung Anh: Masan aims to conquer the 100,000 billion VND market cap milestone, Techcombank surges to highest in 20 months.

Having successfully launched their careers in Eastern Europe, billionaire duo Ho Hung Anh and Nguyen Dang Quang returned to their home country to propel their business ventures to new heights. This dynamic partnership led to the creation of Masan and Techcombank, two industry-leading enterprises in Vietnam.

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On February 23, 2024, the stock of Masan Group Corporation’s MSN closed at a price of 66,700 VND/share, a 2.1% decrease from the previous trading session’s closing price. Its market capitalization stood at 95,437 billion VND.

From August 2023 to the end of October 2023, MSN stock experienced a sharp decline, falling from 88,000 VND/share to around 56,000 VND/share. Since then, MSN stock has rebounded but has yet to break through the 70,000 VND/share mark. From December 2023 onwards, the price of MSN stock has fluctuated around the range of 60,000 – 70,000 VND/share.

Notably, each time MSN stock approaches a market capitalization of 100,000 billion VND, its price tends to decline. The most recent near-miss was on January 21, 2024, when MSN’s market capitalization reached 99,730 billion VND at its highest price during that trading session.

Meanwhile, Masan’s close associate, Techcombank (TCB), has seen a positive upward trend, with its stock price increasing by 46% from November 2023 to date. At the end of the February 23 session, TCB stock had a price of 40,100 VND/share, with a market capitalization of over 141,000 billion VND, the highest since May 2022.

Starting their entrepreneurial journey in Eastern Europe and then returning home to develop their business careers to new heights, billionaire duo Ho Hung Anh and Nguyen Dang Quang have built Masan and Techcombank into two leading companies in Vietnam.

These two companies have many connections as both Ho Hung Anh and Nguyen Dang Quang own shares in TCB and MSN. Masan is also the largest shareholder of Techcombank, with over 524 million TCB shares, representing a 14.88% ownership stake. Nguyen Dang Quang is also the Vice Chairman of Techcombank’s Board of Directors.

SOURCEcafef
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