SCIC to Offer 9% Stake of Vinamilk on Dec. 12

Tuan Minh

15:43 25/11/2016

BizLIVE - The Vietnamese government’s investment arm will auction a 9% stake of the country’s largest dairy producer on December 12.

SCIC to Offer 9% Stake of Vinamilk on Dec. 12

Vinamilk products are displayed for sale at a Fivimart supermarket in Hanoi, Vietnam. Photo: Kham/Reuters

State Capital Investment Corporation (SCIC), the government’s investment arm, will launch a competitive offering for 130.63 million shares, equivalent to a 9% stake, of Vinamilk on December 12.
SCIC, which holds a 45% stake in the dairy producer, will pitch the share sale and take bids for the shares between November 28 and December 9.
Fraser and Neave (F&N), a Singapore-based company in which Thai Beverage (ThaiBev) holds a 28% stake, is considering taking part in the bid, ThaiBev’s Chief Executive Thapana Sirivadhanabhakdi was quoted by Nikkei as saying.
A consortium comprised of Morgan Stanley Asia (Singapore) Limited, Saigon Securities (SSI) and VinaCapital Corporate Finance act as consultants for the share sale.

 

TUAN MINH