The PAN Group Joint Stock Company made a mandatory tender offer to acquire remaining 41.06% stake in Bibica Corporation for approximately VND 550 billion.

The PAN Group Joint Stock Company (HOSE:PAN) made a mandatory tender offer to acquire remaining 41.06% stake in Bibica Corporation (HOSE:BBC) for approximately VND 550 billion on March 29, 2022. Under the terms, The PAN Group will acquire the 7,700,537 shares being the 41.06% stake of Bibica for VND 71,000 per share. Post acquisition, The PAN Group Joint Stock Company will hold the 100% stake in Bibica Corporation.

Transaction will be financed from The PAN Group's own capital and other legal sources of capital. Registered period of transaction will be from March 31, 2022 to May 16, 2022.