Kido is about to own Tuong An cooking oil

By acquiring 65% of TAC's shares, Kido does not hide its goal of becoming the leading oil company in Vietnam.

On October 2, the State Securities Commission announced that it had received full registration documents for a public offering of 65% of shares of Tuong An Vegetable Oil JSC listed on the Ho Chi Minh City Stock Exchange (stock code: TAC) from Kido Group Joint Stock Company (KDC) according to the content of the public offering registration dated September 22.

Accordingly, the State Securities Commission has requested Kido Group Corporation to fully perform its obligation to disclose information and report the results of the public offering of TAC shares in accordance with the provisions of the Securities Law and the Law amending and supplementing a number of articles of the Securities Law.

The amount of TAC shares that KDC is offered to buy is equivalent to 65% of outstanding shares of Tuong An Vegetable Oil Joint Stock Company.

Kido representative said that the price that KDC plans to offer to buy TAC shares is 78,000 VND/share, the expected time is from October 3 to November 15, 2016. Accordingly, KDC may spend more than 960 billion VND to own 65% of TAC's capital.

Previously, in September 2016, KDC sent a document to Tuong An Vegetable Oil requesting to make a public offering to buy 65% ​​of shares and at the end of September 2016, Tuong An Oil responded with an official letter agreeing to make a public offering to buy TAC with the goal of long-term companionship with the company.

Thus, after completing the sale of the confectionery division to a foreign company for more than 2,000 billion VND, the acquisition of 65% of TAC shares to Kido does not hide the goal of becoming the leading oil company in Vietnam.

According to Zing