A total of 42.3 million State shares sold from January-October fetched nearly VND1.04 trillion (US$44.75 million), according to the Ha Noi Stock Exchange (HNX).
The State Capital Investment Corporation (SCIC) has announced it will sell its 36.3 per cent stake, or 44.2 million shares, in the Viet Nam Vegetable Oils Industry Corporation (VOC).
The State Capital Investment Corporation (SCIC) will put its entire 36.3 percent stake, or 44.2 million shares, in the Viet Nam Vegetable Oils Industry Corporation (Vocarimex) on the Ha Noi Stock Exchange on August 15.
The Viet Nam Vegetable Oils Industry Corporation (Vocarimex) has seen a significant improvement in performance in the one year since it was acquired by giant food producer KIDO Group.
The Viet Nam Vegetable Oil Industry Corporation (Vocarimex) reported it had reached its 2017 target in profit of VND201 billion (US$8.8 million) after paying corporate income tax for the first three quarters of the year.
Foodstuff producer Kido Group (KDC) has decided to acquire major stakes in Vietnam Vegetable Oil Industry Corporation (Vocarimex) in a deal worth nearly VND1 trillion (US$44 million).
Analysts said the biggest problem for the domestic edible oil sector is
that 90 per cent of raw materials they use are imported, mainly from
Indonesia and Malaysia.
In addition to importing more cooking oil products, Viet Nam''s domestic
cooking oil market is seeing growing competition between the new and
experienced brands.
Kinh Do Confectionary Corporation plans to spend some VND530 billion
(US$24.9 million) to buy a 27-per cent stake in the Viet Nam Vegetable
Oil Industry Corporation (Vocarimex).
The State has divested holdings worth more than VND4,130 billion,
equivalent to US$194 million, in five groups and three corporations
under the Ministry of Industry and Trade (MoIT).
Shareholders of confectionery giant Kinh Do Corporation have approved
the sale of 80 per cent stake in its snack business to US-based
Mondelez, maker of Oreo biscuits, for US$370 million.