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.
SOE equitisation in need of faster pace and better quality
EVN ensures stable electricity supply
Jetstar Pacific to add more flights to Guangzhou this summer
Samsung Pay allows for transactions by Smart Watch
BW Industrial inaugurated in Binh Duong
Grab-Uber deal may be illegal: VCA
Becamex, Warburg Pincus in joint venture
Licogi 16 aims for US$110 million in consolidated revenue in 2018
Xiaomi opens authorized Mi Store in Hanoi
Petrolimex Aviation to supply fuel to all airports
Doosan Vietnam exports first rubber-tyred cranes to India
US$180-million AEON MALL Haiphong to break ground on May 13
Nippon Sheet Glass to restart idle thin glass float factory in Vietnam
Businesses in HCM City ready for Industrial Revolution 4.0