International Dairy Products Joint Stock Company (IDP-UPCoM) has just announced a resolution by its Board of Directors regarding an investment in Ho Toan Joint Stock Company.
Specifically, IDP has approved an investment of VND 144 billion in Ho Toan JSC. Accordingly, IDP plans to acquire 7.2 million shares from Ho Toan’s existing shareholders, equivalent to 34.29% of the company’s charter capital.
With a transfer price of VND 20,000 per share, the total transfer value amounts to VND 144 billion for the aforementioned 7.2 million shares of Ho Toan.
The details of the method, timing, and related matters concerning the transaction will be stipulated in the share transfer agreement between the existing shareholders of Ho Toan and International Dairy Products Company.
Simultaneously, International Dairy Products Lof also approved the appointment of Mr. Bui Hoang Sang (DOB: 1974) as the authorized representative to manage 100% of the company’s capital in Ho Toan.
According to the introduction, Ho Toan Joint Stock Company was established in 2016, with its primary business being buffalo and cattle farming. Additionally, the company operates in meat processing and preservation, dairy processing and production of animal, poultry, and aquatic feed, among other fields. Its head office is located in Thon 14, My Bang commune, Yen Son district, Tuyen Quang province.
Prior to this, IDP’s Board of Directors approved the registration to repurchase 5% of the circulating shares (equivalent to approximately 3 million shares) to reduce the number of circulating shares and increase the share value. The capital for the repurchase will come from audited post-tax profits for the year 2024.
The expected timeframe for this repurchase is within 30 days after the SSC sends the notification to the company, and the company has made the necessary disclosures as per regulations. This is expected to commence in May 2025.
In the first quarter of 2025, IDP’s consolidated net revenue reached nearly VND 1,831.7 billion, a 15.6% increase compared to the same period last year (VND 1,585 billion). Finance income increased from VND 37 billion to nearly VND 43.47 billion, while finance costs rose from VND 13.8 billion to VND 35.8 billion. Selling expenses also increased from VND 307.26 billion to nearly VND 511.8 billion, and management expenses rose from VND 47.1 billion to over VND 79 billion.
After deducting taxes and fees, the company reported a post-tax profit of VND 106 billion, a 52.1% decrease compared to the previous year.
According to explanations from IDP, although net revenue increased by 15.61%, the cost of goods sold also rose due to changes in the sales structure of different product groups. This, coupled with increased selling, marketing, and management expenses, as well as higher borrowing costs, resulted in a 52.1% decline in post-tax profit for the first quarter of 2025 compared to the same period last year.
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