Investor pays $395.8 mln for 3.33 pct of Vietnam's Vinamilk - exchange

Fraser and Neave

10/11/2017 09:33

Nov 10 (Reuters) - An institutional investor paid $395.8 
million to buy 3.33 percent of Vietnamese dairy firm Vinamilk 
 VNM.HM  on Friday, the Ho Chi Minh Stock Exchange said in a 
notice on its website. 
    The exchange did not name the investor. 
    Vietnam aimed to sell the stake as part of the government's 
plan to divest from state-owned enterprises. The sale reduces 
the state ownership in Vinamilk, Vietnam's biggest listed firm, 
to 36 percent, enough to retain veto rights.  urn:newsml:reuters.com:*:nL4N1N71OM 
    The investor won the auction after bidding 186,000 dong  
($8.19) per share, the stock exchange said. 
    The share sale was met with demand from a total of 19 
investors in Vietnam and overseas. Vinamilk's second-biggest 
shareholder, Fraser and Neave Ltd  FRNM.SI , had registered to 
bid in the auction. 
    Vinamilk shares hit an all-time high of 173,800 dong in 
trading on Friday.  urn:newsml:reuters.com:*:nL3N1NG33E 
($1 = 22,713 dong) 
 
 (Reporting by Mi Nguyen; Editing by Muralikumar Anantharaman) 
 ((mi.nguyen@thomsonreuters.com; +84 24 38259623; Reuters 
Messaging: mi.nguyen.thomsonreuters.com@reuters.net)) 
 
Keywords: VINAMILK INVESTOR/