Lộc Trời Group (LTG) to dissolve joint venture with Chinese company
Lộc Trời Group (LTG) to dissolve joint venture with Chinese company
Lộc Trời Group Joint Stock Company (LTG) has approved the dissolution of its joint venture with Viên Thị Hồ Nam Group (China).
Rice packs are unloaded at Lộc Trời Group Joint Stock Company. It has 23 subsidiaries and two affiliated companies, operating mainly in the fields of rice production and wholesale. — Photo Lộc Trời Group Joint Stock Company |
Lộc Trời-Viên Thị Joint Stock Company was a joint venture between Lộc Trời Group Joint Stock Company (LTG) and Viên Thị Hồ Nam Group (China), established on October 17, 2018 in Hoà Tân hamlet, Định Thành commune, Thoại Sơn District in the southern province of An Giang.
Lộc Trời-Viên Thị Joint Stock Company has an initial capital of US$3 million, of which Lộc Trời Group Joint Stock Company (LTG) holds 51 per cent, subsidiary Thoại Sơn Food holds 1 per cent and Viên Thị Hồ Nam Group (China) holds 48 per cent.
This joint venture's main business lines are the production of plant seeds, research and development of biotechnology; agricultural science, hybridisation of new varieties, research and testing of new plant varieties.
Currently, Lộc Trời Group Joint Stock Company has 23 subsidiaries and two affiliated companies, operating mainly in the fields of rice production and wholesale. After the dissolution of Lộc Trời-Viên Thị Joint Stock Company, the number of subsidiaries owned by Lộc Trời Group will decrease to 22 units.
On the stock market, LTG shares are trading around VNĐ37,800 per share. Since the beginning of this year, LTG market price has increased 59.49 per cent.
