Foreign investor buys up Vinamilk shares (Source: VNA) HCM City (VNS/VNA) - A foreign investor, who did not want to be named, has bought all 48.3million shares of Vinamilk offered at a recent auction at the Ho Chi Minh Stock Exchange.
The State Capital Investment Corporation (SCIC), the country’s sovereign fundwhich manages the Government’s stakes in companies, offered a 3.33 percentstake in Vinamilk at a minimum price of 150,000 VND (6.61 USD) per share.
The auction attracted 19 local and foreign investors, who had registered to buya total of 73.84 million shares.
The foreign investor won the bid by offering the highest price of 186,000 VND,with the SCIC raising 8.99 trillion VND from the sale.
Nguyen Duc Chi, chairman of the SCIC, said the improvement in the stock marketand Vinamilk’s good performance this year as well as its future prospectscontributed to the success of the auction.
The transaction has to be completed this month.
Vinamilk shares rose to 173,800 VND on November 10.
The Government now has a 36 percent stake in Vinamilk, still the largeststakeholder and with a decisive voice in the company.
This was the second time the SCIC sold Vinamilk shares. The first time, lastDecember, it had offered a 9 percent stake but managed to sell only 5.4 percent.
The 3.33 percent stake auctioned on November 10 was from that unsold portion.
Chi said SCIC is wrapping up procedures to divest Government stakes in othercompanies too this year.-VNA
VNA
