In the recently announced M&A transaction, Mobile Online Services joint stock company (the parent company of MoMo) completely acquired 49% stake of CV securities company (CVS). CAPM Global Investment and Consultancy JSC (CAPM Global) acted as an exclusive sell-side advisor.
Licensed in 2009, CVS was originally known as Hong Bang Securities joint stock company, and then was changed into Hung Thinh Securities company in 2015. CVS had its head quarter relocated from HCM City to Hanoi in 2015. The company recorded its revenues in 2020 and 2021 as VND4.4bn and VND4.8bn accordingly. CVS was pursuing its own business pathway: connecting investment opportunities between Vietnam and China based on resourceful capital inflows from China and its territories like Hong Kong and Taiwan. The company took pride in its in-depth knowledge of those specific markets.
Meanwhile, the electronic wallet MoMo, known as a tech unicorn valued at US$2.2bn, operates in mobile payment solutions. In late 2021, MoMo successfully raised about US$200mn in its series E round from top-notch investors such as Mizuho, Ward Ferry, Goodwater Capital and Kora Management. MoMo currently owns around 31mn users. During the past one year, over four millions users have utilized the company’s investment and savings services.
CAPM Global, acted as an exclusive sellside advisor. Though young in age, CAPM Global is proud of its high-quality human assets which possess over a hundred years of financial advisory experience in cross-border transactions. The successful transaction between MoMo and CVS has definitely added to the current client list of honor at CAPM Global, confirming the boutique firm’s vision to accompany Vietnam’s businesses in the world economic arena.
