PAN Group registers to buy Sao Ta Foods shares

Vietnamese agriculture and food company PAN Group JSC has registered to buy nearly 4.8 million shares of Sao Ta Foods JSC (FMC) to raise its current holding in FMC to 45 per cent.

The shares, to be bought for VND30,000 each (US$1.28), are equivalent to a 11.85 per cent stake in FMC.

PAN Group will receive the registration dossiers of the sellers from tomorrow to January 14.

Sao Ta Foods’ revenue rose 3 per cent year-on-year to hit $16.2 million in November. The firm’s shrimp output surged 33 per cent to 1,937 tonnes in the month.

In January-November, its shrimp output was more than 20,700 tonnes, exceeding the goal for the year by 7 per cent. Its revenue surpassed the full-year target by 6.2 per cent at $201.8 million.

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