Moc Chau Milk to sell 39.2 million shares to GTNfoods and Vinamilk

Tuesday, Aug 11, 2020 15:57

Moc Chau Milk will sell newly-issued stake to GTNfoods and Vinamilk at a price of US$1.3 per share. — Photo

Moc Chau Milk will issue nearly 39.2 milion shares dedicated to its strategic partners GTNfoods and Vinamilk.

Of the figure, more than 75 per cent of stake will be offered to GTNfoods, listed as GTN on Ho Chi Minh Stock Exchange, and the remainder to Vinamilk, as VNM.

The price is expected at VND30,000 (US$1.3) per share.

Moc Chau Milk currently has a total of 66,800,000 shares, in which Vinamilk owns 51 per cent. If Vinamilk buy all newly-issued shares, it will own 68.1 per cent of charter capital in Moc Chau Milk.

In the first half of this year, Moc Chau Milk recorded revenue of VND1.37 trillion and after-tax profit of VND106.3 billion, up 7.6 per cent and 40.8 per cent year-on-year, respectively. It has completed 74.7 per cent of the profit plan.

The company also paid dividend of VND134.3 billion to shareholders. — VNS

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