Meanwhile, F&N Dairy Investments Pte Ltd has repeatedly registered to purchase Vinamilk shares.

Platinum Victory Pte spent VND9 trillion (US$395.2 million) acquiring more than 48.3 million shares, or a 3.33% stake, in Vinamilk from the State Capital Investment Corporation (SCIC) on January 10 last year.

Platinum Victory raised its ownership in Vinamilk to 10.03% late last year. The company has made no more move since then.

Meanwhile, F&N Dairy Investment, Vinamilk’s biggest foreign shareholder, had repeatedly registered to buy Vinamilk shares to raise its ownership from 16.5% to 17.3% as of last month. The company is looking to buy 14.5 million more shares of Vinamilk to raise its stake to 18.3%.

At the 2018 annual shareholder meeting of Vinamilk, Alain Cany, who represents Platinum Victory Pte, was elected to Vinamilk’s board for the 2017-2021 tenure. Cany is currently president of Jardine Mattheson Vietnam.

In a related development, Vinamilk has announced its first payment of the 2018 dividend at VND2,000 per share.