Nutifood mulls over stock exchange move

January 21, 2011 | 10:28

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The initial public offering of the dairy and baby food manufacturing company Nutifood is expected to take place by next year.

Talking with VIR recently, CEO of Nutifood corporation Tran Thi Le said that necessary steps for this plan were being prepared. It will hand in a request and relevant documents to Ho Chi Minh City stock exchange by the end of this year after seeking approval from shareholders.

According to Le, Nutifood is developing with significant growth. Last year, it enjoyed a 70 per cent increase in growth rate. This increase is expected to reach 50 per cent this year.

Therefore, Nutifood needs more sources of support to adapt this fast growth rate.

Recently, Nutifood also announced it had successfully gone live with a software system valued at nearly $1 million to be installed by Oracle over two phases, which will increase its productivity and maximise efficiency.

Established in 2000, Nutifood prides itself as one of the top five milk manufacturers in Vietnam and has gained much brand recognition for its high quality products. In October of 2010, Nutifood introduced its new brand. The company is equipped with the ultimate manufacturing system in Southeast Asia.

By Minh Thien

vir.com.vn

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