International Milk Lof to Spend $6 Million to Acquire 34.29% Stake in Livestock Company

International Dairy Products JSC (Stock code: IDP, HoSE) has just announced a resolution by its Board of Directors to approve an investment in Ho Toan JSC.

Specifically, International Dairy Products plans to acquire 7.2 million shares from Ho Toan’s existing shareholders, equivalent to 34.29% of the latter’s charter capital.

With a purchase price of 20,000 VND per share, International Dairy Products is expected to spend approximately 144 billion VND to successfully acquire the aforementioned shares of Ho Toan.

The details of the modalities, timing, and related issues of the transaction will be stipulated in the share transfer agreement between Ho Toan’s existing shareholders and International Dairy Products.

At the same time, International Dairy Products also approved the appointment of Mr. Bui Hoang Sang (DOB: 1974) as the authorized representative to manage the company’s 100% capital at Ho Toan.

Ho Toan Joint Stock Company was established in 2016, with its main business being buffalo and cattle farming. In addition, the company also operates in the field of meat and meat product processing; dairy processing and production of animal, poultry, and aquatic feed… Its head office is located in Thon 14, My Bang commune, Yen Son district, Tuyen Quang province.

At its establishment, the company had a charter capital of 65 billion VND with 10 founding shareholders, and Mr. Luong Duy Toan as its legal representative and General Director.

According to an update on October 24, 2018, Ho Toan’s Chairman of the Board of Directors was Mr. Nguyen Trung Ha (DOB: 1962), and Mr. Nguyen Van Ngoc (DOB: 1948) was a member of the company’s Board of Directors.

On August 1, 2019, the company increased its charter capital to 85 billion VND. Subsequently, the charter capital was further raised to nearly 167.9 billion VND on October 2, 2021.

Not stopping there, on July 22, 2022, Ho Toan continued to increase its charter capital to 210 billion VND.

According to the latest enterprise registration content publication dated February 13, 2025, Mr. Nguyen Duy Toan is still the General Director and legal representative of Ho Toan.

In another development, International Dairy Products recently announced its consolidated financial statements for Q1/2025 with net revenue of nearly VND 1,831.7 billion, up 15.6% over the same period last year. In addition, the company also recorded financial income of nearly VND 43.5 billion, up 17.5%.

During the period, the company recorded financial expenses of over VND 35.8 billion, up 159.4% over the same period; selling expenses also increased by 66.5%, to nearly VND 511.8 billion; and management expenses increased from VND 47.1 billion to over VND 79 billion.

After deducting taxes and fees, International Dairy Products reported a net profit of nearly VND 107 billion, down 52.2% over the same period last year.

As of March 31, 2025, International Dairy Products’ total assets increased by 4.7% from the beginning of the year to over VND 7,273.1 billion. Of which, long-term construction in progress was VND 1,396.4 billion, accounting for 19.2% of total assets; held-to-maturity investments were nearly VND 1,409 billion, accounting for 19.4% of total assets.

On the other side of the balance sheet, total liabilities stood at nearly VND 4,053.1 billion, up 15.1% from the beginning of the year. Of which, loans and finance leases amounted to over VND 2,551.1 billion, accounting for 62.9% of total liabilities.