France-based Red River Holding is increasing its stake in Vietnam’s biggest pangasius producer Vinh Hoan.
In a stock market announcement, Red River will increase its stake from 15.54 percent to 18.15 percent – a total of 8,342,291 shares.
According to Vietnamese law, foreign stakeholders can only own a maximum of 49 percent of a Vietnamese company.
“The food sector will keep growing regardless of economic cycles. In the long run, we believe the world demand for pangasius as a substitute for marine fish and meat still remains strong,” said Jean-Eric Jacquemin, director of Red River.
“The
