HCMC – Indonesia’s consumer goods group Sari Murni Abadi (SMA) has acquired Bibica Corporation (BBC:HOSE), one of Vietnam’s leading confectionery manufacturers, as part of its strategy to expand internationally.
The deal was completed through SMA’s purchase of shares from PAN Group, a Vietnamese diversified conglomerate focusing on agriculture and food. PAN was Bibica’s major shareholder, holding over 18.4 million BBC shares through its subsidiary Bibica Capital, before divesting its stake to SMA. The transaction value was not disclosed.
Market watchers said the acquisition could pave the way for more cross-border mergers and acquisitions in the regional food industry, reflecting growing production and consumption integration across Southeast Asia as companies restructure their value chains to better compete with global giants.
Closing the trading session today, November 6, BBC shares plunged VND6,200, or 6.89%, to close at VND83,800 each, hitting the day’s lowest price. Only 300 shares changed hands, valuing the company at around VND1.57 trillion.
The VN-Index shed 12.25 points, or 0.74%, to 1,642.64 points, with 131 gainers and 176 decliners. Market turnover totaled 583.9 million shares worth VND17.86 trillion, down over 10% in both volume and value from the previous session.
Large-cap stocks continued to weigh on the market as the VN30 index fell nearly 17 points, with 23 decliners and only three gainers. BCM was a bright spot, rising 2.2% to VND68,700 per share, while VIC edged up 0.6%, contributing over one point to the main index.
Banking stocks drove the market down the most, with HDB dipping 3.1%, STB 3%, VPB 2.6%, and SHB 2.2%. Meanwhile, mid-cap stock CII gained 1.7% to VND23,400, ranking among the five most actively traded tickers with over 17.4 million shares changing hands despite strong foreign selling.
On the Hanoi Stock Exchange, the HNX-Index also closed lower, down 0.55 point, or 0.21%, at 266.15 points, with 64 advancers and 83 decliners. Trading volume totaled 85.6 million shares worth VND1.92 trillion.
