Share of dairy gi­ant to be sold

China Daily (USA) - - BUSINESS -

Viet­nam’s State Cap­i­tal In­vest­ment Cor­po­ra­tion an­nounced plans to sell out more than 130 mil­lion shares or 9 per­cent of shares in the coun­try’s sta­te­owned dairy gi­ant Vi­namilk, on Dec 2. The first sale of the shares will be worth around $800 mil­lion at the cur­rent mar­ket value, lo­cal Tuoi Tre (Youth) on­line news­pa­per quoted the cor­po­ra­tion as say­ing on Tues­day. The SCIC, which owns 44.7 per­cent of Vi­namilk shares, said it would not look for strate­gic in­vestors dur­ing the first stake sale in the coun­try’s big­gest listed firm.

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