Outside of Hùng Vương Plaza in HCM City. — Photo laodong.vn
After several rounds of increasing its ownership in Hùng Vương Plaza, KIDO has now invested a total of VNĐ1.13 trillion (US$44.7 million) in acquiring the company that owns the shopping centre.
In August, KIDO completed the acquisition of a controlling stake in Hùng Vương Plaza. Initially, KIDO acquired 39.41 per cent of Hùng Vương's shares, becoming a major shareholder.
Shortly afterwards, VinaCapital Vietnam Opportunity Fund (VOF), managed by VinaCapital, sold its entire 31.04 per cent stake, allowing KIDO to increase its holding to 58.05 per cent. By the end of August, KIDO further expanded its stake to 75.39 per cent, solidifying its controlling interest in Hùng Vương.
This acquisition represents a significant investment for KIDO, totalling around VNĐ1.13 trillion. This amount, though substantial, is less than KIDO’s investment in Vocarimex (nearly VNĐ2.7 trillion) but comparable to its investments in Tường An Vegetable Oil (nearly VNĐ1.18 trillion) and Thọ Phát (VNĐ1.16 trillion).
This transaction aligns with KIDO's pattern of acquiring companies with strong brand value and growth potential, reinforcing the group’s commitment to expanding its portfolio and leveraging synergies across diverse industries.
Located at 126 Hồng Bàng Street, District 5, HCM City, Hùng Vương Plaza is a well-known retail complex with a prominent four-sided frontage. The property covers nearly 45,000 square metres of commercial space across seven floors, with underground and outdoor parking facilities, accommodating around 200 shops and brand outlets.
Originally managed by Parkson, Hùng Vương Plaza faced challenges, including a prolonged period of low performance, leading to Parkson Việt Nam’s voluntary bankruptcy filing in April 2023. Following Parkson’s exit, the plaza was rebranded and reopened as Hùng Vương Plaza on October 12, 2023.
The real estate company was founded in 2004, with key shareholders including Kinh Đô Real Estate JSC, Lâm Phan Co., Ltd and VOF.
Alongside VinaCapital's capital withdrawal from Hùng Vương after two decades of investment and KIDO's increased stake, Liva Holdings Limited, a fund under VinaCapital, acquired 8.6 million KIDO's shares on the stock market.
Presently, VinaCapital's ownership has risen from 11.67 million to 20.29 million shares, constituting a 7 per cent share of KIDO's capital.
Foreign ownership in KIDO typically hovers around 20 per cent, with the VinaCapital holding a substantial position among foreign shareholders.
Based on the closing price of KDC shares on November 8, the market value of this group is estimated to exceed VNĐ1 trillion. — VNS