VinaCapital fund group becomes major shareholder of Kido

VinaCapital fund group has increased its total ownership in Kido from 11.67 million shares (4.02%) to 20.29 million shares (7%).

According to the Ho Chi Minh City Stock Exchange (HoSE), Liva Holdings Limited, a fund under VinaCapital Fund Management JSC, bought 8.6 million KDC shares of Kido Group JSC in the session of August 14, increasing its ownership from 8.62 million shares (2.97%) to 17.24 million shares (5.95%).

With this new ownership ratio, Liva Holdings Limited has become a major shareholder. After the transaction, the total ownership of the VinaCapital fund group increased from 11.67 million shares (4.02%) to 20.29 million shares (7%).

In the session of August 14, KDC shares recorded negotiated transactions with a total volume equal to that purchased by Liva Holdings Limited, with a value of VND500 billion (average VND58,000/unit).

The transaction of VinaCapital's fund took place in the context that KDC stock price is trading at the bottom of more than a year, at 54,600 VND/unit.

Regarding business activities, Kido's accumulated net revenue in the first 6 months of the year reached more than 3,531 billion VND. Of which, the cooking oil segment is still the mainstay, bringing in more than 2,846 billion VND in revenue. Food and other segments contributed 685 billion VND in revenue in the first half of the year.

Profit after tax in the first half of the year reached 32.6 billion VND, down 94% compared to the first 6 months of 2023.

Kido is entering the peak business season for moon cakes.

This year, Tho Phat brand under Kido will enter the moon cake market for the first time with the traditional moon cake positioning. Meanwhile, Kido's Bakery brand targets the demand for luxurious gifts and unique products.

With this strategy, the company aims to hold the number 2 position in the moon cake market in Vietnam, while also aspiring to lead the traditional segment.

Kido's Bakery and Tho Phat mooncakes have been sold on traditional and modern distribution channels, as well as e-commerce channels and fast delivery applications such as Shopee, Lazada, Tiki, Grab, TikTok Shop...

Kido representative also said that the chain of shopping malls such as Van Hanh Mall, Hung Vuong Plaza, Aeon Mall... and especially the chain of hundreds of miniBAO (Tho Phat) stores nationwide will be the exclusive and different distribution channel of the enterprise during this year's Mid-Autumn Festival.

Previously, at the annual general meeting of shareholders, Kido set this year's revenue target at VND13,000 billion and pre-tax profit at VND800 billion, up 50% and 148% respectively compared to last year's results.

After the M&A deal with Tho Phat, Kido has the ambition to build the Tho Phat and My Huong brands as the leading representatives of the steamed food industry. The group's strategy is to expand the market to the Central and Northern regions, build a system of 1,000 agents in 63 provinces and cities, and develop 50,000 points of sale nationwide.

Previously, sharing at Kido's 2024 General Meeting of Shareholders in June, Deputy General Director Mai Xuan Tram said about the moon cake market, the enterprise is reorienting to have strong changes this year instead of following current market trends.

Selling traditional moon cakes under the Tho Phat brand is probably the strategy this person mentioned, along with distributing cakes at miniBao stores. Kido will focus on developing the miniBAO system with 12,000 stores selling steamed and baked goods.

Source: https://baodautu.vn/nhom-quy-vinacapital-thanh-co-dong-lon-kido-d223023.html