F&N hands in 15th registration to increase Vinamilk holding
Saturday, June 9,2018
AsemconnectVietnam - Aiming to raise ownership in Vinamilk, Singapore-based F&N Dairy Investment has been repeatedly registering to buy over 14 million shares. This is the 15th time the investor has professed to its ambition of raising ownership in Vinamilk.
The 15th time
Accordingly, F&N Dairy Investment has just registered to buy over 14.51 million Vinamilk (code: VNM) shares, equaling 1 per cent of VNM’s charter capital, on the Ho Chi Minh City Stock Exchange (HSX) from June 6 to July 5.
On June 4, VNM closed at VND175,000 ($7.7).
If the transaction is successful, the investor will spend VND2.54 trillion on 1 per cent of Vinamilk’s charter capital, raising its ownership rate from 17.31 to 18.31 per cent.
Previously, in May 2-31, F&N Dairy Investment also registered to buy more than 14.51 million shares, but at the end only bought 130,000 shares, citing “inappropriate market conditions.”
According to HSX, since 2017, F&N Dairy Investment has registered to buy VNM stocks 15 times via auction transactions, failing at each turn.
With the ownership of 19.96 per cent through its subsidiaries, F&N is the second largest shareholder of Vinamilk—the company holding the largest share in the Vietnamese milk market.
Vinamilk is F&N's most important investment
Maybe F&N (the parent company of F&N Dairy Investment)’s investment into Vinamilk help it overcome a gloomy business year.
According to viettimes.vn, in the 2017 fiscal year, F&N’s revenue dropped to $1.6 billion against—slightly less than the $1.67 billion in the previous fiscal year—due to heightened competition in its main markets and weak consumption demand.
Milk products made up 58 per cent of its revenue structure, followed by beverages (26 per cent).
F&N’s profit before interest and taxation (PBIT) also showed the dominance of the dairy segment with 120 per cent of its PBIT, showing a remarkable growth against other segments.
In Vietnam, thanks to the dividend and income from milk products (from its affiliate Vinamilk), F&N also recorded a PBIT growth of 7 per cent, equaling $207 million.
In addition, despite no data of its revenue in Vietnam, its subsidiaries in the country also contributed 47 per cent of F&N’s PBIT.
The Vietnamese market is supposed to help F&N to escape from its dependence on markets like Malaysia, Singapore, and Thailand (which recorded dropping revenues), according to Thai billionaire Charoen, chairman of the F&N Management Board.
Source: Vov.vn
Dabaco Vietnam (DBC): Record loss of VND320.73 billion in Q1/2023
Vingroup (VIC) reached VND4,264 billion consolidated pre-tax profit in Q1/2023, up 121% yoy
MBBank (MBB) will increase capital to VND53,683 billion
Ha Do (HDG) estimated to reach VND250 billion profit after tax in Q1/2023
PNJ achieved VND749 billion profit after tax in Q1/2023
VietinBank will increase charter capital to VND60,387 billion or over VND66,000 billion
KienlongBank (KLB) aims to reach VND700 billion pre-tax profit in 2023
Bao Viet Securities (BVSC) target VND155.7 billion profit after tax in 2023
Vincom Retail (VRE) recorded VND1,024 billion consolidated profit after tax in Q1/2023
TPBank (TPB): Profit before tax reached VND1,765 billion in Q1/2023, up nearly 9% yoy
Vinhomes (VHM) recorded VND11,923 billion profit after tax in Q1/2023
Bao Minh (BMI) sets profit target of VND375 billion in 2023
FPT Securities (FTS) pays 5% cash dividend and 10% stock bonus
PV Drilling (PVD) sets profit target of VND100 billion in 2023
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...
