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VietNamNews

Saigon Securities divests from confectionery with sale of more than 3 million shares

Update: February, 02/2015 - 07:58
After the deal, SSI's holding in Bibica decreased to a tiny 0.02 per cent, thus Bibica is no longer its affiliate. Korea's Lotte currently holds a 44-per-cent stake in Bibica. — Photo donga

HCM CITY (VNS) — Saigon Securities Inc (SSI) has reported that its SSI Asset Management Ltd Co (SSIAM) has completed sale of over 3 million shares in confectionery firm Bibica Corp (BBC), accounting for nearly 20 per cent of BBC's charter capital.

The buyer information has not been disclosed.

After the deal, SSI's holding in Bibica decreased to a tiny 0.02 per cent, thus Bibica is no longer its affiliate. Korea's Lotte currently holds a 44-per-cent stake in Bibica.

Bibica general director Truong Phu Chien said the withdrawal of SSI would not affect the company's future development plans.

BBC stocks hit their ceiling price on Friday at VND57,500 (US$2.69) a share, while that of SSI declined 2.2 per cent to VND26,300 ($1.23). — VNS

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