According to the Ho Chi Minh City Stock Exchange (HOSE), Dofico is set to auction its entire stake in D&F, a company specializing in meat processing, preservation, and distribution. The book value of this investment stands at VND 40.3 billion, representing a 29% stake in D&F’s charter capital of VND 139 billion. The starting price for the auction is VND 72.5 billion.
Eligible participants include domestic organizations, individuals, and qualified foreign investors. D&F is one of Dofico’s nine affiliated companies, alongside well-known entities like Tan Mai Timber Corporation (UPCoM: TMW) and Bien Hoa Construction and Building Materials Production (UPCoM: VLB).
Dofico’s 2025 semi-annual financial report reveals an investment of over VND 40 billion in D&F, fully provisioned. As of mid-2025, Dofico has invested a total of VND 636 billion in affiliated companies, with the largest being a 49.2% stake in VLB (valued at VND 230 billion). VLB boasts a market capitalization exceeding VND 2.2 trillion, making it the most valuable asset in Dofico’s portfolio.
Dofico invested over VND 40 billion in D&F but fully provisioned it. Source: Dofico’s 2025 semi-annual financial report
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Among its subsidiaries, Dofico holds stakes in listed companies such as Dong Nai Agricultural and Livestock (UPCoM: NSS), Phu Son Livestock (UPCoM: PSL), Industrial Rubber (UPCoM: IRC), Dong Nai Agricultural Supplies (UPCoM: DOC), and Dong Nai Tourism (UPCoM: DNT). Notably, Dofico has invested VND 347 billion in Buu Long Development Investment LLC and VND 115 billion in IRC.
The divestment from D&F aligns with Dofico’s ongoing portfolio restructuring efforts. In 2025, the company initiated valuation processes for potential divestments in DOC and Donafoods, where it holds 72.9% and 39.8% stakes, respectively. Similar actions were taken in late 2024 for PSL and NSS.
Established in 2005, Dofico operates as a parent company with a diversified portfolio spanning tobacco, livestock, rubber, and tourism. As of June 2025, its total assets exceeded VND 5.3 trillion, with equity surpassing VND 4 trillion. Dofico and its subsidiaries hold nearly VND 2.4 trillion in bank deposits, while short-term debt stands at approximately VND 783 billion.
In the first half of 2025, Dofico reported revenue of VND 986 billion, a 13% year-on-year decline, but net profit rose 37% to VND 76 billion, driven by earnings from affiliates and cost management.
– 10:43 13/11/2025
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