Kinh Do sells stake to Japan partner

HCM CITY — Food processor Kinh Do Corporation (KDC) has sold 14 million shares, representing a 10-per-cent stake, to Japanese strategic partner Ezaki Glico. The price-per-share of the deal was not released but was said to be higher than Kinh Do's current trading price on the market. KDC closed up 1.6 per cent yesterday to VND26,000 per share. KDC has estimated its 2011 earnings at VND4.2 trillion (US$200 million) and its profit for the year at VND500 billion ($23.8 million).