<article>Vietnam Southern Food Corporation (Vinafood 2) will trade on UPCoM with a total 114.8 million shares while food major KIDO Group plans to acquire 51 per cent stake in cooking oil producer Golden Hope.</article>

Vietnam Southern Food Corporation (Vinafood 2) will trade on UPCoM with a total 114.8 million shares while food major KIDO Group plans to acquire 51 per cent stake in cooking oil producer Golden Hope.
<h3>Vinafood 2 to trade on UPCoM</h3>
<a href="https://www.dealstreetasia.com/tag/vinafood-2/">Vietnam Southern Food Corporation </a>(Vinafood 2) will trade on UPCoM under code VSF with a total of 114.8 million shares priced at VND10,100 ($0.4) apiece on April 23, according to an announcement from Hanoi Stock Exchange.
Under the equitization plan, Vinafood 2 would sell a portion of its capital to reduce the state ownership to 51 per cent. The company conducted a sale of 23 per cent stake, which brought VND1.16 trillion ($51 million) to the government in its initial public offering (IPO) in Ho Chi Minh City Stock Exchange on March 14.
The auction attracted 41 investors, including 40 individual investors and one organization, for the 114.83 million shares on offer. The highest bid value reached VND12,000 ($0.53) per share. The proceeds were in line with the government’s expectation.
After IPO, it will sell another 25 per cent to strategic investors.
Vietnam-based multi-sector firm T&amp;T Group was earlier reported to have acquired a 25 per cent strategic stake in IPO-bound Vinafood 2. With the price for the strategic stake sale expected to at least match the IPO starting price of VND10,100 ($0.45) per share, T&amp;T Group may have had to pay at least VND1.26 trillion ($56 million) to purchase the 25 per cent stake.
<h3>KIDO to acquire 51% edible oil producer Golden Hope </h3>
One of Vietnam’s leading food firms <a href="https://www.dealstreetasia.com/tag/Kido-Group/">KIDO Group</a> &#8211; previously known as Kinh Do Corporation &#8211; plans to acquire 51 per cent stake in cooking oil producer Golden Hope, which is 49 per cent owned by the Vietnam Vegetable Oils Industry Corporation (Vocarimex).
KIDO Group CEO Tran Le Nguyen told local media that this is part of the group&#8217;s M&amp;A strategy this year. Currently, KIDO holds 30 per cent market share in the segment and targets to lead the Vietnamese edible oil space in the next few years.
The group is also looking to enter the bottled water and noodle markets in partnership with a Thai investor to tap Vietnam’s $11-billion fast-moving consumer goods market.
KIDO Group, which sold out its snack business to Oreo maker Mondelez for $460 million, focuses on three main consumer products: frozen food – primarily ice cream, instant noodle, and vegetable oil.
Also Read:
<a href="https://www.dealstreetasia.com/stories/vietnam-vinafood2-ipo-94256/">Vietnam government raises $51m from Vinafood 2’s IPO</a>
<a href="https://www.dealstreetasia.com/stories/tt-group-vietnam-rice-exporter-vinafood2-92948/">T&amp;T Group seeks to acquire 25% of Vietnam’s rice exporter Vinafood 2</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietnam-kido-frozen-foods-to-list-at-132m-valuation-getting-no-strategic-investor-69851/">Vietnam: Kido Frozen Foods to list at $132m valuation</a>
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Vinafood 2 to trade on UPCoM with total 114.8 million shares while food major KIDO Group to acquire 51 per cent stake in cooking oil producer Golden Hope.

Vietnam Digest: Vinafood 2 to trade on UPCoM; KIDO to buy 51% in Golden Hope

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Vietnam Digest: Vinafood 2 to trade on UPCoM; KIDO to buy 51% in Golden Hope

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