Ki Do Ice-Cream Joint Stock Co, or Kido’s is set to issue 2 million shares on February 2 to raise capital for projects.
The issue is expected to attract at least 70 billion VND (4.3mio US$) for expansion projects in the northern region.
As planned, 1.2mio US$ shares will be offered for strategic partners and the rest for outsiders via an auction which is scheduled to take place at the Ho Chi Minh City Securities Trading Center.
The auction’s starting price is set at 27,000 VND against the face value of 10,000 VND each.
Ki Do Joint Stock Co., is the successor of Wall’s – an ice-cream brand of Unilever sold out to Kinh Do Group in 2003 at a price of 20mio US$.
The company schemes to build a factory to produce yogurt and puddings with an annual capacity of three million liters.
The ice-cream producer also focuses on boosting shipments of its middle and high-end products in the near future.
Its current facility in Tay Bac Cu Chi Industrial Park, outlying Cu Chi District has annual capacity of nine million liters.
Kido’s with chartered capital of 40 billion VND (2.5mio US$) is targeting 30% annual output growth.
Vietnam’s ice-cream consumption averages out at half of a liter per capita- the low rate signals big potentials for Kido’s target.
Kido now offers 36 ice-cream products under two brands, Merino and Kido’s Premium, enjoying 60 per cent market share of the popular middle-class ice-cream segment.
The Kido Ice-cream Joint Stock Company became the first business of its kind in Vietnam to receive the international quality management system certificate on food safety control – HACCP (Hazard Analysis and Critical Control Point) in 2005.
The HACCP given to companies by the organization Quacert Vietnam – a division of the Ministry of Science, Technology and Environment is a pre-requisite for food manufacturers to enter the global marketplace.
Kido’s products are shipped to Taiwan and Cambodia.
Source: Thanh Nien
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