SCIC to sell over 48 million Vinamilk shares
HÀ NỘI – The State Capital Investment Company (SCIC) will further sell over 四 八 million shares in Việt Nam’s top listed firm by market value, Vinamilk, this October.
At the press meeting yesterday in Hà Nội, Nguyễn Đức Chi, Chairman of SCIC, announced the State capital divestment itinerary of the sale of Vinamilk shares, which is coded as VNM on the HCM Stock Exchange.
Chi stated that the Government has allowed SCIC to carry out the further stake sale, which is equal to 三. 三 三 per cent of Vinamilk’s charter capital in 二0 一 七.
He explained that this 三. 三 三 per cent stake is part of the 三. 六 per cent of the company’s charter capital that was not sold during a previous sale at the end of 二0 一 六. In the 二0 一 六 sale, SCIC planned to sell 九 per cent of Vinamilk’s charter capital, but only 五. 四 per cent was successfully sold due to highly restrictive investment caps and unfavourable market conditions.
Chi added that detailed information related to the upcoming sale, such as initial price, trading mode and minimum volume, will be made public in September to assure potential investors.
While organising the sale, SCIC will work closely with Vinamilk to highlight potential investment opportunities for domestic and foreign investors, Chi further added.
Chi also stressed that the sale will be transparent and SCIC would try to remove all "limitations"大众that were put in place last year to assure investors.
Last year, SCIC sold 五. 四 per cent of Vinamilk to the Singapore-listed, Fraser and Neave Ltd, the second largest investor in the company after SCIC, which owns 三 九. 三 四 per cent.
It is estimated that the stake sale would fetch VNĐ 六. 五- 七.0 trillion (US$ 二 八 五. 九-$ 三0 七. 九 million), Chi said.
Vinamilk is seen as one of the country’s most attractive company as it co妹妹ands around half of the domestic market for dairy goods and has seen steady earnings growth. The company posted after-tax profit of VNĐ 五. 八 五 trillion in the first half of this year, up 一 七 per cent year-on-year.
Vinamilk shares closed flat at VNĐ 一 五 四,000 on Friday. — VNS
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