HCMC – Kido Group, whose KDC shares are traded on the Hochiminh Stock Exchange (HOSE), has approved a complete withdrawal from the ice cream and frozen food business, with plans to sell its entire stake in Kido Foods to Nutifood.
Under the resolution, Kido Group plans to sell its entire holding of about 36.38 million shares, representing a 49% stake in Kido Foods, to Nutifood for an estimated VND2.5 trillion.
Tran Kim Thanh, chairman of Kido Group, has been authorized to handle all related legal procedures and execute the transfer agreement. If the transfer is completed, Kido will officially exit the ice cream business.
Alongside this latest divestment plan, Kido is also completing the legal procedures related to the transfer of a 24.03% stake in Kido Foods carried out in 2023 to Nuti Investment Company Limited.
At the time, the market was abuzz with Nutifood’s claim that it had gained control of Kido Foods, triggering disputes between Kido and related parties over the rights to use the Merino and Celano ice cream brands.
The decision to divest from Kido Foods is driven not only by developments in the ice cream segment but also reflects Kido’s broader restructuring strategy. In recent years, the group has discontinued two major initiatives, the Vibev joint venture and the Chuk Chuk tea and coffee chain, after they failed to deliver the expected results.
At the same time, Kido has revived its traditional confectionery business and stepped up its retail commerce strategy, operating assets such as Van Hanh Mall and Hung Vuong Plaza.
Earlier, Kido’s shareholders had approved the addition of several new business lines, including real estate, mobile food and beverage services, and entertainment activities.
On the financial front, Kido said the payment of cash dividends for 2024 will be deferred to the first quarter of 2026.
Closing the trading session today, December 19, KDC inched up 0.96% against yesterday to VND52,800, with 310,300 shares changing hands.
On the southern bourse, the HOSE recorded 162 gainers and 154 losers, with the VN-Index rising 27.33 points, or 1.63%, to 1,704.31.
Total trading volume reached more than 776.7 million shares, worth VND24.14 trillion, up 17% in volume and 36% in value from the previous session. Block deals accounted for over 118.4 million shares, valued at VND3.23 trillion.
Vingroup stocks remained the main highlight, with VHM hitting the ceiling, up 7% to VND101,500, VRE rising 4.5% to VND31,700, and VIC gaining 4.1% to VND148,000.
These three stocks also led gains in the VN30 basket, alongside another related stock, VPL, which climbed 5.6% to VND93,800. Together, they contributed nearly 16 positive points to the VN Index.
Gains also spread across other blue chips, supporting the index’s advance, with STB, MSN, VJC and SSI rising 2-3%, while heavyweights such as HPG, VCB, MWG and TCB were up around 1.5%.
On the northern bourse, the HNX-Index edged up 0.74 point, or 0.29%, to 253.97. Total trading volume exceeded 77 million shares, with a value of VND1.39 trillion.
