VinaCapital sells GBP12.6M in shares of VNM
VinaCapital Vietnam Opportunity Fund Ltd said Tuesday it had sold 3.6 million shares in Vietnam Dairy Products Co, also known as Vinamilk, at VND123,333 per share.
VinaCapital said that was a 9.7% premium over the market price at the time of the sale, which has a gross value about GBP12.6 million.
The reason for the sale was an ongoing rebalancing of the trust's portfolio, it said, freeing up cash to capitalise on several private equity investments in its pipeline.
Vinamilk remains the largest holding in VinaCapital's portfolio, at USD87.2 million, 10.8% of its July 31 net asset value.
The acquirer of the shares is one of Vinamilk's major shareholders, VinaCapital said, which reaffirms its confidence in the long-term prospects of Vinamilk.
Shares in Vinacapital closed up 0.2% Tuesday at USD2.61.