VinaCapital to increase stake holding in Kido Group
Vietnam-based fund manager VinaCapital has increased its stake in food and flavors major Kido Group (KDC) from 4.97% to 5.03%, according to an announcement on the Ho Chi Minh City Stock Exchange (HoSE).
VinaCapital bought an additional 190,000 shares of KDC through its fund member Liva Holdings Limited. It was said that Liva spent about VND10.4 billion (US$457,600) to increase the ownership, becoming a major shareholder of Kido Group.
VinaCapital to increase stake holding in Kido Group.
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Kido Group, formerly known as Kinh Do Corporation, is one of the leading food producers in Vietnam. In the first quarter this year, its revenue reached VND1.6 trillion (US$70.4 million), up 33% year-on-year, while profit after tax stood at VND17.4 billion (US$765,600), down 43% year-on-year.
In 2018, KIDO aims to infiltrate and dominate the FMCG market worth up to VND250 trillion (US$10.9 billion), revenue of VND12 trillion (US$527.4 million) and pre-tax profit of VND800 billion (US$35.1 million), increasing 70% and 40% compared to 2017, respectively.
KIDO's revenue in 2017 reached VND7 trillion (US$307.6 million), 3 times higher than previous year due to revenue being consolidated from subsidiaries. Specifically, its profit from business is estimated at VND561 billion (US$24.6 million), up 380% compared to 2016.
Vietnam's FMCG market in 2018 is expected to continue rising 6 - 7% against this year, according to a Kantar Worldpanel report.
VinaCapital's flagship fund, Vietnam Opportunity Fund (VOF), had earlier announced that it had invested about US$11 million in FPT Retail. At the current price, the FPT Retail stake held by VinaCapital is worth nearly VND500 billion (US$22 million).
Founded in 2003, VinaCapital is a leading investment and asset management firm headquartered in Vietnam, with a diversified portfolio of US$1.8 billion in assets under management.
VinaCapital VOF is a Guernsey-domiciled, closed-ended investment company. VOF's investment objective is to achieve medium to long-term returns through investment either in Vietnam or in companies with a substantial majority of their assets, operations, revenues or income in, or derived from, Vietnam.
Kido Group, which sold out its snack business to Oreo maker Mondelez for US$460 million, has been focusing on the production of three main consumer products: frozen food - primarily ice cream, instant noodle, and vegetable oil - the line that saw the group acquire a majority stake in formerly state-owned Vocarimex.
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