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Stock brokerage VNDirect eyes investment in operator of King BBQ, ThaiExpress restaurants

By Minh Son   May 16, 2024 | 09:49 pm PT
Stock brokerage VNDirect eyes investment in operator of King BBQ, ThaiExpress restaurants
Customers eat and drink at a King BBQ restaurant. Photo courtesy of King BBQ
The board of directors of stock brokerage VNDirect has approved the acquisition of a maximum of 15% stake in Goldsun Food, the operator of 14 restaurant chains.

CEO Nguyen Vu Long has been tasked with negotiating and finalizing the deal.

Goldsun Food was established in 2019 as Redsun-ITI with a charter capital of VND15 billion (US$590,000), which has now risen to VND1.26 trillion.

Common shares account for only 15.4% and the remaining 84.6% are preferred shares without voting rights.

This means if VNDirect acquires 15% of the company, it would get nearly all the voting rights.

It is not clear why and if Goldsun would agree to such a deal.

Its restaurant chains include King BBQ, Tasaki BBQ, ThaiExpress, Hotpot Story, Khao Lao, and Sushi Kei.

It also makes packaged foods such as kimchi, sauces and hotpot broth.

It has 6,000 employees and serves around 2.4 million customers annually.

 
 
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