Platinum Victory to raise Vinamilk’s ownership to 11%
Platinum Victory Pte. Ltd, a wholly-owned subsidiary of Singapore-based automotive group Jardine Cycle and Carriage (JC&C), has registered to purchase an additional 14.51 million shares of Vietnam’s largest dairy producer Vinamilk.
The purchase will be made via order-matching transactions or through the Vietnam Securities Depository (VSD) between May 9 and June 7, 2018, according to VnEconomy.
If the transaction is successful, Platinum Victory will hold 160.1 million shares of Vinamilk, equivalent to 11.03% ownership of the company.
At the end of the trading session on May 8, the market price of Vinamilk’s shares was VND185,100 (US$8.13) per share. At this price, Platinum Victory will have to spend some VND2.549 trillion to increase its ownership in Vinamilk.
Platinum Victory is currently the third-largest shareholder of Vinamilk, following State Capital Investment Corporation of Vietnam with 36% and Singapore’s food and beverages company Fraser and Neave Ltd with 20%.
JC&C, a subsidiary of Jardine Matheson, has been present in Vietnam for over a decade. It now owns about 25% of stake in automobile producer Thaco and nearly 25% in Refrigeration Electrical Engineering Corporation.
In addition to operating in real estate, hotel and financial services, Jardine Matheson, the parent company of JC&C, holds shares of many franchise brands in Vietnam, such as KFC and Pizza Hut.
If the transaction is successful, Platinum Victory will hold 160.1 million shares of Vinamilk, equivalent to 11.03% ownership of the company.
At the end of the trading session on May 8, the market price of Vinamilk’s shares was VND185,100 (US$8.13) per share. At this price, Platinum Victory will have to spend some VND2.549 trillion to increase its ownership in Vinamilk.
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JC&C, a subsidiary of Jardine Matheson, has been present in Vietnam for over a decade. It now owns about 25% of stake in automobile producer Thaco and nearly 25% in Refrigeration Electrical Engineering Corporation.
In addition to operating in real estate, hotel and financial services, Jardine Matheson, the parent company of JC&C, holds shares of many franchise brands in Vietnam, such as KFC and Pizza Hut.
