F&N subsidiary fishing for more Vinamilk shares
After increasing its holdings in Vietnam Dairy Products Joint Stock Company (Vinamilk) to 13.65%, F&N Dairy Investments Pte., Ltd., a 100%-owned subsidiary of Fraser & Neave Ltd. (F&N), has registered to buy an additional 1.5%, equalling 21.8 million shares.
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After this transaction, the company will increase its holdings in Vinamilk to 220 million shares, equalling a 15.15 % stake.
Previously, F&N Dairy Investment Pte., Ltd. and F&N Beverages Manufacturing Sdn., Bhd., another 100 %-owned subsidiary of F&N, spent VND11.3 trillion ($499.56 million) on buying 78.38 million shares, equalling a 5.4 % stake, in Vinamilk.
After the auction, F&N increased its holdings in Vinamilk to 16.35 %, including the 13.65 and 2.7 % stakes of F&N Dairy Investments Pte., Ltd. and F&N Beverages Manufacturing Sdn. Bhd, respectively.
According to its consolidated financial report, in the nine months of this year, Vinamilk earned VND35.1 trillion ($1.55 trillion) in revenue with VND7.5 trillion ($330.4 million) in after-tax profit.
The company expects to earn VND46.2 trillion ($2.04 billion) in revenue with VND11.2 trillion ($493.4 million) in after-tax profit, signifying an increase of 14.86 % and 19.77 %, respectively.
