Vietnam reportedly plans to sell its stake in Vinamilk, the country’s largest dairy company, in increments.
Citing unnamed sources, Reuters reported Vietnam’s investment arm, the State Capital Investment Corporation (SCIC), plans to offload a 10% chunk of its 44.7% stake in Vinamilk and then sell the rest of the stake in stages.
Go deeper with GlobalData
The newswire claimed the Vietnamese government has asked a clutch of investment banks, including HSBC and Rothschild, to advise it on selling its shares in Vinamilk.
Officials at Vinamilk had not returned a request for comment at the time of writing.
In August, Vinamilk reported a 29% increase in second-quarter net profit to VND2.8trn. Net sales for the second quarter was VND11.6trn compared to VND10trn for the same period last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn 2015, Vinamilk’s net profit after tax reached VND7.77trn, an increase of 28.1% on the year. Net revenue rose 14.3% to VND40.08trn.
