Recently, the State Securities Commission of Vietnam imposed a fine of 240 million VND on Kido Group (KDC) for two main reasons. First, Kido was fined 65 million VND for failing to disclose information on time according to regulations, specifically regarding the usage report of funds from bond issuance. Secondly, the company faced a 175 million VND penalty for providing misleading information in the report, as it did not use the funds raised to invest in Vibev LLC as claimed. In addition to the monetary fines, Kido must withdraw or correct the misleading information. Meanwhile, Kido is seeking partners to sell 49% of its stake in Kido Frozen Foods (KDF) for an estimated 2.5 trillion VND. Kido previously reduced its ownership in KDF from 100% to 49% after a process of hiving off and divestment.
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