Lotte increases stake in Bibica to 43.1%

 South Korean firm Lotte announced that it would purchase an additional 686,000 shares in confectionery company Bibica (BBC) from October 18 - 23, increasing its stake to 43.1 per cent.

The current foreign ownership in Bibica is 48.69 per cent, almost approaching the limit of 49 per cent. Therefore, Lotte will have to negotiate to buy the shares from other foreign investors.

The second biggest shareholder of Bibica is Saigon Securities Inc (SSI) with a 38.05 per cent stake.

There has been speculation around a possible takeover of BBC by Lotte, but this has been denied by the Korean investor.

vietnamnews

>   Shares rally on improved liquidity (22/10/2013)

>   Foreign cash inflow lifts local markets (21/10/2013)

>   First all foreign-owned securities firm approved (19/10/2013)

>   Shares edge higher nationwide (19/10/2013)

>   Former FPT Group’s CEO sells most of his shares, earning $2.5 million (18/10/2013)

>   US Congress deal buoys VN stocks (18/10/2013)

>   Maybank KimEng Vietnam to be first 100% foreign owned securities company (17/10/2013)

>   Local shares gain on trading spike (17/10/2013)

>   VN30 shares rise above domestic market growth (16/10/2013)

>   Local bourses bounce back to black (16/10/2013)