Illustrative image (Source: Vinamilk)

Hanoi (VNA) - The State Capital Investment Corporation (SCIC) has selected a group of consultants led by Morgan Stanley Asia Limited for the sale of nine percent of charter capital of the Vietnam Dairy Products Joint Stock Company (Vinamilk, coded VNM).

Vinamilk is the largest dairy company in Vietnam.

Under the financial consulting contract signed on October 5, the group of consultants, which also include Sai Gon Securities Saigon (SSI), and VinaCapital Corporate Finance Vietnam, will give advice on the capital-selling plan, initial price, and the selection of local and foreign investors, as well as the implementation of relevant procedures related to the sale of shares.

According to the SCIC, the selection of consultants was done according to regulations of the Law on Bidding. It said the selection of prestigious domestic and foreign financial organisations as consultants would ensure that the selling of State capital at Vinamilk is done in a public, transparent and effective manner.-VNA