<article>Vietnam will continue to sell only a tiny portion of its biggest listed firm, dairy product company <a href="https://www.dealstreetasia.com/tag/vinamilk/">Vinamilk</a>, even as its last year offer of 9 per cent stake failed to lure buyers.</article>

Vietnam will continue to sell only a tiny portion of its biggest listed firm, dairy product company <a href="https://www.dealstreetasia.com/tag/vinamilk/">Vinamilk</a>, even as its last year offer of 9 per cent stake failed to lure buyers.
<a href="http://dealstreetasia.com/tag/state-capital-investment-corporation">State Capital Investment Corporation</a> (SCIC), Vietnam’s sovereign wealth fund, that is still holding 39 per cent stake in the cash cow enterprise, said in a statement that it will sell 48.3 million shares of Vinamilk, or a 3.33 per cent stake, in October this year.
This is part of the 3.6 per cent shares remaining from last year’s offer.
Other details will be announced later, SCIC said.
In December 2016, Vinamilk put up a 9 per cent equity interest for sale, but only Thai-owned <a href="https://www.dealstreetasia.com/tag/f&amp;n/">F&amp;N</a> acquired 5.4 per cent for an amount of approximately $500 million. After the transaction, the <a href="https://www.dealstreetasia.com/tag/thaibev/">ThaiBev</a> subsidiary owned more than 16 per cent of the then $9 billion dairy business. Vinamilk’s market capitalisation has since then rose to $9.8 billion.
Even as <a href="https://www.dealstreetasia.com/stories/vinamilk-completes-5-4-sale-to-fn-sees-no-other-bids-60350/">F&amp;N’s purchase</a> marked the biggest divestment in Southeast Asia in 2016 for Vinamilk, other institutional investors did not make bids for the shares, given the small ownership they would have.
As per a decision issued last month by the local government, SCIC will have to fully exit Vinamilk by 2020.
The growth pattern of Vinamilk shares has seen the stock price increase some 19 per cent over the past six months. It was traded at VND153,500 apiece Monday morning.
Also read:
<a href="https://www.dealstreetasia.com/stories/vietnam-scic-submits-vinamilk-stake-sale-options-77429/">Vietnam: Sovereign fund offers two options for Vinamilk divestment by 2020</a>
<a href="https://www.dealstreetasia.com/stories/vinamilks-500-stake-is-se-asias-biggest-sell-down-in-2016-60591/">Vinamilk’s $500m stake sale seen as Asean’s biggest divestment in 2016</a>
<a href="https://www.dealstreetasia.com/stories/vietnam-to-launch-nearly-40-ipos-of-state-companies-in-2h2017-77532/">Vietnam to launch nearly 40 IPOs of state companies in 2H2017</a>
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Vietnam will continue to sell only a tiny portion of its biggest listed firm, dairy product company Vinamilk.

Vietnam: Vinamilk to sell another 3.33% shares in October

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Vietnam: Vinamilk to sell another 3.33% shares in October

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