The joint stock ice cream manufacturer Kido will soon merge with commercial baker Kinh Do Corp, which is listed at the Ho Chi Minh City Securities Trading Centre.
Kido chairman Tran Kim Thanh said at Kido’s annual meeting held on June 5 that consultants were working on the merger plan and expected it to be completed in the third quarter.
Procedures are also taking place for listed confectioner North Kinh Do to merge with Kinh Do Corp as well.
This year Kido plans investments worth around 90 billion VND (5.6 million USD) to expand production.
The investments include a new ice cream factory in the northern province of Hung Yen to save transport costs from southern to the northern areas. Currently Kido has a factory in HCM City.
Construction for the Kido Hung Yen project will begin in October. When put it opens in October 2008, the 43 billion VND factory will turn out five million liters of ice cream annually, which is more than double the capacity of the existing factory.
The company has recently increased its equity capital to 60 billion VND (3.7 million USD) from the previous 40 billion VND (2.5 million USD).
This year, its target is 15 billion VND in net profit, up 46 percent from 2006’s 10.5 billion VND.
In another development, the HCM City Securities Trading Centre accepted Royal Securities Corp. (ROSE) as its 48 th trading member.
This securities company has equity capital of 20 billion VND (1.2 million USD), and provides services including brokerage and consultancy. The company is located on the second floor of the Eden Mall, 106 Nguyen Hue Street, District 1, in the city
Source: VNA
Showing posts with label Ki Do. Show all posts
Showing posts with label Ki Do. Show all posts
Wednesday, June 06, 2007
Thursday, January 25, 2007
Ice-cream maker prepares IPO
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
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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