SCIC announces initial price of VNM’s share auction
SCIC announces initial price of VNM’s share auction
The State Capital Investment Corporation (SCIC) has announced the initial selling price of the competitive tender for Vinamilk’s shares, scheduled on November 10 on the HCM Stock Exchange.
The starting price is set at VND150,000 (US$6.61) per share, higher than the initial price of VND144,000 a piece a piece in the first sale that took place in December last year.
Investors participating in the share auction must make a bid not lower than the starting price and not lower than the closing price of Vinamilk’s shares traded on the HCM Stock Exchange on the auction date.
In mid-October, SCIC announced it will sell 3.33 per cent of State’s capital in Vinamilk on November 10.
After the sale of nine per cent stake of Vinamilk in December last year, SCIC’s holding in the dairy company is currently 39.34 per cent, equivalent to nearly 571 million shares.
At the first sale, only Singapore-based dairy group Fraser and Neave Ltd (F&N) registered to buy 78.4 million shares, equivalent to 60 per cent of the share offering. The remaining 40 per cent was unsold.
Vinamilk’s shares have risen by 23.4 per cent in value this year, trading at some VND155,000 per share.
