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.
Trung Nguyen Legend launches premier coffee capsules
Hoa Phat Group moves to expand market share of steel products
Bao Minh Insurance Corporation defining with “effective and sustainable development”
Sharp Vietnam aims for 135% growth
Amata to start construction of Song Khoai IP
Seafood firms struggle in local market
UK firm plans offshore Binh Thuan wind farm
PetroVietnam fulfills yearly production targets ahead of schedule
Top 500 largest enterprises in Viet Nam announced
Organic firms need to do research
Small sized firms limiting Vietnam’s logistics potential
Leipzig opens office in HCM City
Hoa Sen Group to focus exclusively on steel business
Vietjet to launch routes from Van Don