A Hong Kong group becomes a major shareholder of Vinamilk

By Minh An - Nov 13, 2017 | 05:25 PM GMT+7

TheLEADERThe Singapore’s Jardine Cycle & Carriage Limited (JC&C), acquired a total of 5.53 per cent stake in Vietnam Dairy Products JSC (Vinamilk) with the value at US$616.6 million through Platinum Victory Pte Ltd.

A Hong Kong group becomes a major shareholder of Vinamilk
Vinamilk is the largest dairy company in Vietnam.

According to information published by Jardine Cycle & Carriage company on Singapore Stock Exchange (SGX), Platinum Victory Pte Ltd acquired a total of more than 80 million shares of Vinamilk on November 10.

This amount included 48 million shares purchased through the State Capital Investment Corporation (SCIC) with value at nearly VND9,000 billion (more than US$396 million).

The rest were bought through order matching in the market. Jardine Cycle & Carriage Company estimated that the number of shares held in Vinamilk is valued at US$616 million.

“The taking of this relevant interest in Vinamilk is in line with the JC&C group’s strategy of investing in market leading companies in Southeast Asia. In particular, it increases JC&C’s exposure to the Vietnamese economy and consideration will be given to make further such investments,” the Singaporean investor said in a statement.

JC&C has been present in Vietnam through its 25.1 per cent holding in the country’s largest automotive firm Truong Hai Auto as well as a 22.9 per cent ownership in listed Refrigeration Electrical Engineering Corporation (REE).

In the field of real estate, this group owns two office buildings in Hanoi. The first building is at 63 Ly Thai To that is opposite to the Opera House and and the second one is the Central Building at the intersection of Hai Ba Trung and Ba Trieu Street.

Its member company, Jardine Restaurant Group, is also the franchisor of the Pizza Hut franchise in Vietnam and holds a 25% stake in KFC Vietnam. Coffee Concepts, another subsidiary of this group, has franchised Starbucks Coffee in Vietnam.