Masan Consumer is seeking to buy the remaining 1.51% stake in Vinacafe Bien Hoa to raise its ownership in the coffee processor to 100%, reported Thanh Nien Online newspaper.
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| Workers inspect Vinacafe Bien Hoa products. Masan Consumer is seeking to own a 100% stake at the coffee maker. |
Masan Consumer is seeking to buy the remaining 1.51% stake in Vinacafe Bien Hoa to raise its ownership in the coffee processor to 100%, reported Thanh Nien Online newspaper.
Masan Beverage, a wholly-owned subsidiary of fast-moving consumer goods firm Masan Consumer, announced an offer to buy 401,000 shares in Vinacafe Bien Hoa for some VND90 billion between June 17 and July 16. The latest transaction was made in February 2018 when it bought around eight million shares for VND1.6 trillion to increase its holding to 98.49%.
The Vinacafe Bien Hoa stock, coded VCF, is trading at VND225,000 per share, the highest on the Hochiminh Stock Exchange. As Masan holds a majority stake in the enterprise, VCF reports a low trading volume at less than 500,000 shares per session.
As the leading instant coffee manufacturer in Vietnam, the coffee maker used to offer the most attractive dividend in 2017 at up to 660%, allowing shareholders to receive VND66,000 for every share held. In the first quarter of 2020, it reported VND483.3 billion in revenue and VND103 billion in after-tax profit, equivalent to last year’s figures.
(Source: SGT)
