Platinum Victory to raise Vinamilk’s ownership to 11%Thursday, May 10,2018
AsemconnectVietnam - 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.
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.
Sen Do in strategic deal with DHL
FPT becomes Carlsberg’s global technology partner
Agribank enhances cooperation with Japan’s Yanmar Group
Zara, H&M report high revenues in Vietnam
Petrolimex plans second treasury stock sale by year-end
Go-Viet offers new motorcycle ride-hailing service in Ha Noi
Japanese businesses seek hi-tech agriculture opportunities
Nestlé Vietnam helps coffee farmers improve productivity, income
PVN asks for revision of oil law
NutiFood expands business to Sweden
VAMC plans to resolve US$5.95 billion of bad debts by 2020
Uber BV completely pays off tax arrears
PAN to issue shares for M&A deals
Vietnamese dairy producer expands operation in Russia