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SCIC sets opening price for Vinamilk shares

Update: November, 29/2016 - 16:00
Vinamilk employee working at the company’s plant in HCM City. SCIC will sell 9 per cent of their Vinamilk’s shares in December 12 to 21 — Photo tuoitrenews.vn
Viet Nam News

HÀ NỘI — The State Capital Investment Corporation (SCIC) announced its final price for 9 per cent of shares in the Vietnam Dairy Products Joint Stock Company (Vinamilk) at VND144,000 per share (US$6.32).

Starting December 12, the SCIC will put 130.6 million shares of Vinamilk on sale, amounting to 9 per cent of Vinamilk’s charter capital.

These shares will be sold at a tick price of VND100 and a tick size of 10 shares.Individual investors or legal entities can purchase a minimum of 20,000 shares and a maximum of 39,189,150 shares, which equals to 2.7 per cent of the charter capital, in order to qualify for exchanges in accordance with the Ho Chi Minh Stock Exchange’s (HOSE) regulations.

Investors must deposit 10 per cent of the value of their registered shares at the initial opening price. Investors can start depositing and registering on November 28, until 16:00 hrs on December 9.

The transaction period begins on December 12 and ends on December 21.If successful, the SCIC could get VND18.81 trillion ($840 million) from the deal.

At its road show on November 2, Nguyễn Đức Chi, chairman of SCIC, said it planned to sell another 36 per cent of its share in Vinamilk, depending on market response to the initial offering of 9 per cent.

Earlier, in October, the SCIC chose Morgan Stanley Asia Limited, Saigon Securities Inc and VinaCapital Corporate Finance Vietnam as advisors for the sale of Vinamilk shares. — VNS

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