Having just achieved record revenue, why does the long-standing confectionery company want to leave the stock exchange?

Achieving revenue of more than 1,000 billion VND in recent years, especially last year with a record increase, but this long-standing confectionery company suddenly wants to withdraw from the stock market.

Bibica Joint Stock Company (stock code BBC) has just announced the convening of an extraordinary general meeting of shareholders to approve several important matters. Of particular note is the plan to revoke its public company status and delist its securities.

Bibica's extraordinary general meeting of shareholders is expected to take place online on September 29th.

One of Bibica's candies. Photo: BBC

Established in 1999, Bibica is one of Vietnam's oldest confectionery companies. This domestic brand was once among the two largest confectionery companies in the country, and is associated with the childhood memories of many generations born in the 80s and 90s.

According to the audited consolidated semi-annual financial report, in the first half of this year, Bibica's revenue from sales and services reached VND 667 billion, a slight increase compared to the same period last year; after-tax profit reached VND 26 billion.

In recent years, Bibica has consistently recorded revenues exceeding 1,400 billion VND. Notably, in 2024, the company's revenue experienced a breakthrough growth, reaching nearly 1,800 billion VND - the highest level in its operating history.

Bibica has two confectionery factories in Hanoi and Dong Nai. The Hanoi factory has ceased operations and is in the process of completing the procedures for closing its tax registration number. The Dong Nai factory is also slated for relocation from the Bien Hoa Industrial Park and is expected to complete the closure process this year.

In addition, Bibica owns 5 subsidiaries, mainly located in the South, specializing in the production of confectionery and food products.

Bibica's parent company is PAN Group Joint Stock Company (PAN), which holds a 98.3% ownership stake. This company previously prevailed over a group of South Korean investors, including Lotte, in the battle for control of Bibica between 2012 and 2020.

Due to its concentrated ownership structure, BBC shares have very low liquidity. Recently, the average trading volume has only reached about 2,000 shares per session; in some sessions, only 100 shares were traded.

Source: https://vietnamnet.vn/vua-dat-doanh-thu-ky-luc-vi-sao-hang-banh-keo-lau-doi-muon-roi-san-chung-khoan-2440684.html