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Vietnam seeks $829 mln from Vinamilk stake sale on Dec. 12: state investment firm

Nov 29th at 22:29
29-11-2016 22:29:36+07:00

Vietnam seeks $829 mln from Vinamilk stake sale on Dec. 12: state investment firm

Vietnam's state investment firm will sell a stake of 9 percent in dairy firm Vinamilk at a minimum bidding price of 144,000 dong ($6.34) per share on Dec. 12, the investment firm said on Monday.

 

The price values the 9-percent stake at $829 million, the State Capital Investment Corporation (SCIC), which owns 44.7 percent of Vinamilk, Vietnam's top listed firm by market value, said in a statement.

The winning bid must also be no lower than Vinamilk's so-called floor price - its effective minimum trading price - on Dec. 12, which would be 7 percent less than its closing price a trading day earlier, according to SCIC's rules. ($1=22,700 dong).

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