SCIC sets Vinamilk share price
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 VND144,000 per share (US$6.32).
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. Individual 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.
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| 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.
