VinaCapital increases its ownership in KIDO Group to over 10 per cent

August 26, 2021 | 11:56

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VinaCapital spent about $18.9 million raising its ownership in KIDO Group to nearly 10.5 per cent.

VinaCapital increases its ownership in KIDO Group to over 10 per cent

VinaCapital increased its ownership in KIDO Group to over 10 per cent

VinaCapital has recently bought more than 7.2 million shares of KIDO Group (KDC), thereby increasing its ownership ratio from 7.32 per cent to 10.48 per cent.

VinaCaital's member fund, Vina QSR Ltd., purchased more than 7.2 million KDC shares, equivalent to an ownership rate of 3.16 per cent.

Besides the main shareholder Vina QSR Ltd., there are Allright Assets Ltd. holding 5 million shares of KDC (2.22 per cent) and Liva Holdings Ltd. with 11.6 million shares (5.1 per cent).

KDC has announced many major plans in 2021, including the launch of its coffee and milk tea brand Chuk Chuk and Vibev products in a joint venture with Vinamilk. However, the complicated situation of the pandemic is delaying KDC's plans.

This year, the company is also transforming its business model. Accordingly, KDC will undertake the distribution and sale of cooking oil, ice cream, confectionery, coffee, and other essential products to the market through its sales channels at home and abroad.

Last year, KDC announced its return to the confectionery market, five years after the merger with Mondelez International. The company plans to develop its key product lines of mid-autumn cakes. However, KDC has suspended the implementation of its moon cake segment this year amid the social distancing.

In the first six months of 2021, KDC recorded net revenues of nearly $215 million, up 34 per cent over the same period last year, fulfilling 42.6 per cent of the year's plan. Meanwhile, before-tax profits reached $15 million, up almost 87 per cent over the same period last year and fulfilling 42.8 per cent of the year's plan.

By Thanh Van

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