KIDO Foods (KDF), the frozen foods subsidiary of KIDO Group, has obtained approval from the Ha Noi Stock Exchange (HNX) to trade 56 million shares on the Unlisted Public Company Market (UPCoM) under stock code KDF.

KIDO Foods will start trading on September 28 at the starting price of VND60,000 (US$2.64) per share.

According to the group’s latest report, KIDO Group sold 2,688 million shares of KDF under the put-through method from August 24 to August 28, 2017. After trading, the group still holds 36.4 million shares, equivalent to 65 per cent of capital at KDF.

Currently, KDF’s products are divided into three main brands -- ice-cream Merino, high brand ice-cream Celano and yogurt Welyo.

Until August 25, 2017, the number of shares held by foreign investors was 3,927,000 shares, accounting for 7.01 per cent of the charter capital, while domestic shareholders held 52.073 million shares, equivalent to 92.99 per cent.

The company has three founding shareholders -- Kido Group holds 36.4 million shares, accounting for 65 per cent, Tran Kim Thanh and Tran Le Nguyen hold 156,000 shares, representing 0.28 per cent.

According to Euromonitor’s report, KDF held 25.5 per cent share of the ice cream market in 2010, 36.4 per cent in 2014 and 34.7 per cent at the end of 2016.

In the first six months of 2017, the company’s net revenue reached over VND778 billion, after-tax profit reached nearly VND82 billion, fulfilling 40.47 per cent and 40.95 per cent of the business plan, respectively.

This year, the company estimated revenue of nearly VND1.83 trillion and after-tax profit of VND200 billion. The firm also targets holding 50 per cent share of Viet Nam’s ice cream market by 2020.

In 2016, KIDO Foods expanded to 10,000 retail outlets, bringing the total to 70,000 points nationwide, while expanding distributors to the district level instead of only the provincial level. — VNS