A production line of Vinamilk (Photo: VNA)

Hanoi (VNA) - The Singapore-based automotive group, Jardine Cycle and Carriage (JC&C), has made additional purchases of Vinamilk’s shares after its maiden 616.6 million USD investment on November 10.

This has increased its ownership in Vietnam’s largest dairy producer to 10 percent.

According to the group’s announcement on November 17, Platinum Victory Pte Ltd, a wholly-owned subsidiary of JC&C, has made further on-market purchases to acquire an additional of nearly 16.5 million shares from Vinamilk, representing approximately 1.1 percent of the issued share capital of Vinamilk.

Following the acquisition, the JC&C group now has an aggregate interest in nearly 145.6 million Vinamilk shares, representing approximately 10.0 percent of Vinamilk’s issued share capital.

On November 10, JC&C beat other bidders to purchase a 3.33 percent stake in Vinamilk from the State Capital Investment Corporation (SCIC) at an open auction on the HCM Stock Exchange. It also acquired another 2.2 percent stake via order-matching transactions to bring its holding to up to 5.53 percent.

Currently, JC&C is the third-largest shareholder of Vinamilk, after SCIC with 36 percent and Singapore’s food and beverages company Fraser&Neave, with 18.74 percent.

JC&C, a subsidiary of Jardine Matheson, has been present in Vietnam for over a decade. It now owns a 25.1 percent stake in automobile producer, Thaco, and nearly 23 percent in the Refrigeration Electrical Engineering Corporation (REE Corp).-VNA