Vinamilk is not included in SCIC’s 2017 capital sale

25-Apr-2017 Intellasia | Nhip Cau Dau Tu | 6:00 AM Print This Post

Of the 100 companies listed in the plan for capital selling in 2017 of the State Capital Investment Corporation (SCIC), Vietnam Dairy Products (Vinamilk) is not named.

According to the SCIC restructuring plan promulgated by the prime minister in 2015, SCIC would withdraw state capital from 10 enterprises, including big corporations such as Vinamilk, FPT, and Bao Minh.

During SCIC’s share sale last year, SCIC offered 130.6 million shares, equivalent to 9 percent of Vinamilk. As a result, two units of Singapore Fraser & Neave Beverage Group, i.e. F & N Dairy Investments, the second largest shareholder of Vinamilk, and F & N Manufacturing participated in the auction.

At that time, the F & N group successfully purchased more than 78 million shares of Vinamilk, equivalent to 5.4 percent. At the price of VND 144,000/ share, F & N spent more than VND11,286 billion to buy the shares.

In the list of planned divestments this year, SCIC intends to divest from some of SCIC’s major restructuring projects, such as FPT Corporation, Bao Minh Corporation, Plastic Corporation Teen Tien Phong, Binh Minh Plastics Joint Stock Company, and Sa Giang Import Export Joint Stock Company.

In 2016, SCIC achieved total revenue of 26,872 billion dong and after tax profit of 20,289 billion dong. This year, the company plans to reach 11,241 billion dong of sales and 7,343 billion dong of after tax profit.


Category: Stocks

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