International Food Joint Stock Co (coded IFS) on June 9 said that Kirin Holdings Limited Co (Japan) has bought all IFS shares held by Indochina Beverage Holdings (British Virgin Islands), equivalent to 23.12 percent of the total IFS shares in circulation on June 7.
Of which, unlisted shares accounted for 18.87 percent stake and listed shares constituted 4.25%.
Earlier, in 2011, Kirin had bought back stake of Trade Ocean Holdings Sdn. Bhd (Malaysia), accounting for 57.25 percent of the total IFS shares in circulation.
Thus, after this deal, Kirin holds 80.37 percent stake of IFS.
Reportedly, in the first quarter of 2012, IFS suffered a loss of 231 million dong. In 2011, the company incurred a loss of 2.7 billion dong. IFS’s director board agreed a plan to cancel listing plan on Hochiminh Stock Exchange (STC).