VNDirect pursues acquisition of culinary chains, including King BBQ and ThaiExpress, to expand portfolio
VNDirect pursues acquisition of culinary chains, including King BBQ and ThaiExpress, to expand portfolio
VNDirect is planning on buying shares in a company operating a string of famous culinary chains including King BBQ, ThaiExpress and Seoul Garden.
A King BBQ restaurant. VNDirect Securities Joint Stock Company (VND) will buy shares in Goldsun Food Joint Stock Company, which is operating famous culinary chains such as King BBQ, ThaiExpress, Seoul Garden, Capricciosa, Tasaki BBQ, Meiwei and Khao Lao. — Photo Goldsun Food |
According to HoSE, the VNDirect Securities Joint Stock Company (VND) will buy shares in Goldsun Food Joint Stock Company and, following the successful acquisition, the company will become an affiliated company of VNDirect.
Details of the transaction regarding the number of shares being bought and the price, have not been revealed.
The Goldsun Food Joint Stock Company (Goldsun Food) was converted from Redsun-ITI, and currently operates food chains which also include Capricciosa, Tasaki BBQ, Meiwei and Khao Lao.
At the end of 2023, VNDirect only has one affiliated company, Postal Insurance Joint Stock Company, with a 20 per cent ownership rate. According to the financial report for the first quarter of 2024, the investment is worth VNĐ836 billion.
At the end of the first quarter of 2024, VNDirect's total assets were at VNĐ41.3 trillion - flat compared to the beginning of the year. Of which, cash and equivalents recorded VNĐ3.36 trillion, down 31 per cent, while term deposits are nearly VNĐ7.8 trillion, up 5 per cent.
The outstanding loan balance for margin activities at the end of March 2024 is VNĐ9.93 trillion, a slight increase compared to the beginning of the year. The company no longer records advances from sales (VNĐ374 billion at the beginning of the year).
The company's balance of shares and listed fund certificates was recorded as VNĐ1.53 trillion, an increase of VNĐ421 billion compared to the beginning of the year. The company also has more than VNĐ1.1 trillion invested in unlisted stocks and fund certificates.
In the first quarter, the securities company achieved operating revenue of VNĐ1.39 trillion, an increase of 7 per cent over the same period last year; profit after tax VNĐ617 billion, 4.4 times higher than Q1 in 2023. However, compared to Q4, the final of 2023, VNDirect's revenue and profit both decreased.
