SCIC sets Vinamilk share price

20:20 | 01/12/2016 Finance Follow english.haiquanonline.com.vn on

The State Capital Investment Corporation SCIC announced its final price for 9 percent of shares in the Vietnam Dairy Products Joint Stock Company Vinamilk at 144 000 VND per share 6 32 USD

Starting December 12, the SCIC will put 130.6 million shares of Vinamilk on sale, amounting to 9% of Vinamilk’s charter capital.

These shares will be sold at a tick price of VND100 and a tick size of 10 shares. Inpidual investors or legal entities can purchase a minimum of 20,000 shares and a maximum of 39,189,150 shares, which equals to 2.7% of the charter capital, in order to qualify for exchanges in accordance with the Ho Chi Minh Stock Exchange’s (HOSE) regulations.

Vinamilk employee working at the company’s plant in HCM City (Photo: tuoitrenews.vn)

Investors must deposit 10% of the value of their registered shares at the initial opening price. Investors can start depositing and registering on November 28, until 16:00 hrs on December 9.

The transaction period begins on December 12 and ends on December 21. If successful, the SCIC could get VND18.81 trillion (US$840 million) from the deal. At its road show on November 2, Nguyen Duc Chi, chairman of SCIC, said it planned to sell another 36% of its share in Vinamilk, depending on market response to the initial offering of 9%.

Earlier, in October, the SCIC chose Morgan Stanley Asia Limited, Saigon Securities Inc and VinaCapital Corporate Finance Vietnam as advisors for the sale of Vinamilk shares.

Source: VNA

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