A foreign investor acquired Vinamilk’ shares at US$8.19 each, paying nearly US$400 million for deal
By Bao Binh
November 12, 2017 | 06:55 AM GMT+7
A foreign investor spent nearly VND9 trillion (roughly US$396.2 million) acquiring the entire 3.33 per cent of Vietnam Dairy Product JSC (Vinamilk)’s stakes, equaling 48.4 million shares from State Capital Investment Corporation (SCIC).
SCIC's second divestment at Vinamilk is completely successful. Photo: NDH
The auction took place on November 10 at the Ho Chi Minh City Stock Exchange (HOSE).
There were 19 investors joining in the auction, including six foreign investors, five domestic investors, and eight domestic individuals, who registered to acquire a total of 73.8 million shares, nearly doubling the total offered shares.
In accordance with the regulation on offer for sale of shares, each investor must buy a minimum of 20,000 shares and a maximum of 48,333,400 shares.
The foreign winner paid VND186,000 (equivalent to US$8.19) per share, 24 per cent higher than the initial price of VND150,000 (roughly US$6.6). However, the name of this investor has not been revealed yet.
Vinamilk’s share value stood at VND173,000 (approximately $7.62) as of the end of the transaction session on November 10. Therefore, the purchase price at the auction was 7 per cent higher than Vinamilk’s market price on the stock exchange.
Previously, in December 2016, SCIC planned to sell 9 per cent of its stake at Vinamilk (equalling 130.6 million shares); however, only 5.4 per cent (equivalent to 78.38 million shares) was successfully transacted.
F&N Dairy Investment Pte Ltd and F&N Bev Manufacturing Pte. Ltd., the two 100-per-cent-owned subsidiaries of Thailand-based Fraser & Neave Ltd. (F&N), spent VND11.3 trillion (roughly US$499.56 million) buying a total of 78.38 million shares of Vinamilk.
As Vietnam sets its sights on becoming a high-income country by 2045, Resolution 68 lays a crucial foundation. But turning vision into reality requires not only good policy - but also unwavering execution, mutual trust and national unity.
Vietnam plans to upgrade Gia Binh Airport in Bac Ninh province into a dual-use international airport to support both military and civilian operations, the government said on Friday.
Under unforgiving conditions, the outdoor workers - the backbone of urban economies - endure the harshest impacts of climate change while remaining overlooked by social safety nets. Their resilience and struggles highlight the urgent need for better protection in the face of rising temperatures and precarious livelihoods.
Doan Van Binh, Chairman of CEO Group and Vice President of the Vietnam National Real Estate Association, introduced his latest book, “Vietnam Real Estate for Foreigners,” at a launch event in Hanoi on Friday.
Acting for increased women’s participation and leadership in climate action, Vietnam can accelerate a transition that is more inclusive, just, and impactful.
The "Steam for girls 2024" competition provides a creative platform for Steam and an opportunity for students to connect with peers from various regions within Vietnam and internationally.