NutiFood becomes major shareholder in Vinasoy's owner
NutiFood becomes major shareholder in Vinasoy's owner
The nutrition product producer NutiFood completed the purchase of additional two million shares in Quang Ngai Sugar JSC to become a major shareholder of the owner of Vinasoy.
The transaction worth about VND87 billion ($3.78 million) was done on August 2 by NutiFood Binh Duong Nutrition Food JSC.
After the transaction, NutiFood increased its ownership ratio in Quang Ngai Sugar to 19 million shares, equaling a 5.33 per cent stake.
NutiFood is the fourth-largest shareholder in Quang Ngai Sugar, following Thanh Phat Trading Co., Ltd, general director Vo Thanh Dang, and investment fund VinaCapital.
This ownership ratio is still quite low, however, since the end of last year, there have been many speculations on the stock market that NutiFood is trying to increase its influence in Quang Ngai Sugar.
Quang Ngai Sugar could be an ideal piece for NutiFood to increase market share in the food and beverage sector.
Notably, at the end of last year, Phuoc An Coffee JSC – a member of NutiFood deputed an expert of RongViet Securities Corporation to hold 29.35 million shares, equaling an 8.2 per cent stake in Quang Ngai Sugar. Meanwhile, RongViet Securities is a consultant firm for NutiFood.
Owing soy milk brand Vinasoy, in collaboration with other products such as beer, mineral water, and confectionary, Quang Ngai Sugar could be an ideal piece for NutiFood to increase market share in the food and beverage (F&B) sector.
In the first half of this year, Quang Ngai Sugar acquired approximately VND4.05 trillion ($176.08 million) in revenue and VND541 billion ($23.5 million) in profit after tax, signifying increases on 10 per cent and 4 per cent on-year.
The soy milk segment contributed more than VND2.1 trillion ($91.3 million) to this, equaling half of the company’s total revenue. The company’s capitalisation is nearly VND16 trillion ($695.6 million).
