Packaged food producer Kido controls Hung Vuong Plaza in Ho Chi Minh City
Sunday, August 25, 2024, 09:15 GMT+7
Packaged food producer Kido Group Corporation has reported to the State Securities Commission of Vietnam its completion of a transaction to increase its holding at Hung Vuong JSC, the operator of Hung Vuong Plaza in Ho Chi Minh City, to 58.05 percent from 39.41 percent.
Kido bought an additional 4.5 million shares of Hung Vuong JSC on Thursday, local media reported.
Its board of directors revealed at the firm's annual general meeting of shareholders held in June that the company would purchase the shopping mall with the ownership of 77 percent this year.
Located at 126 Hong Bang Street in District 5, Hung Vuong Plaza covers a floor area of some 45,000 square meters and features seven stories, according to its website.
The building faces four streets and accommodates nearly 200 stores and well-known brands, including CGV Cinema, California Fitness & Yoga, Starbucks, Haidilao Hotpot, H&M, Mango, G2000, Nike, and Adidas.
Parkson Vietnam, which had operated the Hung Vuong Plaza, formerly known as Parkson Hung Vuong Plaza, since 2007, filed for bankruptcy with the Ho Chi Minh City People’s Court in April last year after enduring several years of losses in the Vietnamese market.
As a result, the company was forced to return the building space to Hung Vuong JSC.
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