Economics
Vietnam’s Shrimp King Courts Foreign Investors to Expand
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Minh Phu Seafood Corp., which sells black tiger shrimp to Costco Wholesale Corp. and Wal-Mart Stores Inc., will seek to sell half of itself to foreign strategic investors to help fund overseas expansion.
Vietnam’s largest seafood exporter by value aims to complete the stake sales this year after it gets approval to delist from the Ho Chi Minh City Stock Exchange this quarter, Chief Executive Officer Le Van Quang said in an interview. The company forecasts net income will jump 55 percent to 1.416 trillion dong ($66 million) this year, with sales reaching $1 billion, mainly from exports, he said.