Red River Holding to divest from VHC

Wednesday, Sep 21, 2016 15:24

Red River Holding puts up 2 million shares from Vinh Hoan Corporation (VHC) for sale as part of divestment plan — Photo
HA NOI (Biz Hub) — Red River Holding investment fund, backed by the French Artemis group, has registered to sell two million VHC shares of Vinh Hoan JSC, a Vietnamese aquaculture company, until October 5. 

The sale is part of its divestment plan and transaction methods are put-through or auction. 

Red River Holding owns more than 9.8 million VHC shares, currently (equivalent to 10.7 per cent authorised shares).

If the sale is successful, the fund's ownership will be down to 8.5 per cent, equal to 7.8 million shares.

Red River Holding had divested from a number of other Vietnamese businesses besides VHC, such as Vicostone , Hoa Phat and bedding company Everpia. It still has stake in FPT and Minh Phu Seafood.

The fund sold 500,000 VHC shares on August 17.

Jean Eric Jacquemin, chief executive officer of Red River Holding, is also a member of the Board of Management at Vinh Hoan JSC. 

Vinh Hoan JSC's works include cultivating, processing and exporting catfish, including tra and basa fish, rice; collagen and gelatin. — VNS

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