Foreign shareholder Star Pacifica exits KDC major stake after sale

Overview

Foreign fund Star Pacifica Pte. Ltd. sold 250,000 shares of Kido Group (KDC) on 14/8/2026, reducing its ownership to 4.9487% and thereby losing its status as a major shareholder (holding 5% or more). The sale comes as KDC reported a 92.4% year-on-year drop in Q2 2026 net profit, signaling continued earnings weakness for the Vietnamese food and beverage conglomerate.

Key Facts

• Star Pacifica sold 250,000 KDC shares on 14/8/2026, cutting its stake from 5.0392% to 4.9487%.
• Post-transaction, Star Pacifica holds approximately 13.7 million KDC shares, down from over 13.9 million.
• KDC’s Q2 2026 net profit fell 92.4% YoY to just over VND 9.5 billion.
• Q2 2026 net revenue declined 7.3% YoY to VND 1,863.8 billion, while gross profit rose 9.8% to VND 408.3 billion.
• Financial income dropped 54.8% YoY to VND 57.2 billion; income from associates and joint ventures fell 52.1% to VND 31 billion.
• In H1 2026, KDC’s net revenue rose 4.5% YoY to VND 4,345.4 billion, but net profit fell 27.5% to VND 41.6 billion.
• Insider Tran Vinh Nguyen sold 428,863 KDC shares between 16/7/2026 and 10/8/2026, reducing his stake to 0.18%.

What Happened

Star Pacifica Pte. Ltd., a foreign investment fund, filed a report with the Ho Chi Minh City Stock Exchange (HOSE) disclosing a change in its ownership of Kido Group (KDC). On 14/8/2026, the fund sold 250,000 KDC shares for portfolio restructuring purposes. This reduced its holding from over 13.9 million shares (5.0392% of capital) to nearly 13.7 million shares (4.9487%), thereby falling below the 5% threshold that defines a major shareholder under Vietnamese regulations.

In a parallel development, Tran Vinh Nguyen, brother of KDC board member and Deputy CEO Tran Quoc Nguyen, sold 428,863 KDC shares between 16/7/2026 and 10/8/2026, cutting his stake from 0.33% to 0.18%. Conversely, Deputy CEO Nguyen Cong Hao purchased 35,000 KDC shares during 6-10/8/2026, increasing his holding to 57,642 shares (0.02%). These insider transactions come amid KDC’s weak earnings report for Q2 2026, which showed net profit plunging 92.4% YoY to VND 9.5 billion, despite a modest gross profit increase.

Market Context

KDC shares closed at VND 52,000 on 24/8/2026 on HOSE. The stock has likely faced pressure given the sharp earnings decline and the departure of a major foreign shareholder. The sale by Star Pacifica may signal reduced foreign confidence in KDC’s near-term prospects, especially as the company’s H1 2026 net profit fell 27.5% YoY. The broader Vietnamese consumer staples sector has been challenged by soft domestic demand and rising input costs, which may be weighing on KDC’s profitability.

Strategic Significance

For long-term investors, Star Pacifica’s exit from major shareholder status is a notable signal, as foreign funds often hold stakes for extended periods. The reduction could reflect concerns about KDC’s earnings trajectory, particularly the sharp Q2 profit drop. However, the company’s gross margin improved, suggesting underlying operational resilience. The insider buying by Deputy CEO Nguyen Cong Hao may indicate management’s confidence, but the overall picture remains mixed. Investors should monitor whether further foreign selling occurs and whether KDC can reverse its profit decline in the coming quarters.

What to Watch

• KDC’s Q3 2026 earnings release, expected in October 2026, to see if net profit recovers from the Q2 slump.
• Any further filings by Star Pacifica or other major shareholders indicating additional stake changes.
• Insider trading activity, particularly any purchases by board members or senior executives.
• KDC’s progress in its core food and beverage segments, including edible oil and frozen foods, amid competitive pressures.
• The company’s debt levels, as total liabilities rose by VND 83.5 billion in H1 2026 to VND 6,252.7 billion.