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.
