The State Capital Investment Corporation (SCIC) has decided to divest all of its capital in the Dabaco Group (DBC) with the aim of structuring its investment list.

According to the Hanoi Stock Exchange, SCIC registered to sell all 6 million DBC shares it owned, equivalent to 9.56 percent of the group’s total shares. With the market price of 28,900 VND per share, SCIC’s DBC stocks are valued at over 173 billion VND.

Transactions are scheduled to be implemented from October 17 to November 14.

A financial report recently released by Dabaco’s parent company shows that the company earned 43 billion VND in net profits in the third quarter of 2014, down 22 percent against the same period last year. In the first nine months of this year, the company’s net profits reached 95.4 billion VND, 3 billion VND lower than that of the same period a year earlier.

Established in 1996 as a State-owned enterprise, Dabaco underwent privatization in 2005. Since then, the group has operated in numerous fields, with the focus on animal feed, poultry and castle breeding and food processing.

In addition, Dabaco has also invested in building industrial and urban zone facilities, infrastructure and real estate.

It is one of the first names present in the animal feed market in Vietnam and one of the ten biggest enterprises specialised in producing animal feed nationwide.-VNA