SSC allows 100% foreign ownership in Vinamilk

Thursday, Jul 21, 2016 15:21

Foreign investors are allowed to own stake to 100 per cent in Vinamilk. — Photo

HA NOI (Biz Hub) — The State Securities Commission of Viet Nam has allowed Viet Nam Dairy Products Joint Stock Company (Vinamilk) to increase its foreign stake to 100 per cent.

Currently, foreign investors hold a 49 per cent stake in Vinamilk.

The State Capital Investment Corporation (SCIC), which holds more than a 45 per cent stake in Vinamilk, plans to divest from the company. However, SCIC has not yet released a concrete divestment itinerary.

The dairy giant firm has planned to spend about VND4.8 trillion of cash dividends for its shareholders in the first quarter of this year. On average, each share will receive VND4,000.

The company will also issue bonus shares to shareholders at the ratio of 5:1 at a total value of nearly VND2.42 trillion. — VNS

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