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Vinamilk's minimum share sale price set at 151,200 dong -SCIC
November 9, 2017 / 11:46 AM / a month ago

Vinamilk's minimum share sale price set at 151,200 dong -SCIC

Nov 9 (Reuters) - Vietnam’s State Capital Investment Corporation (SCIC) on Thursday set a minimum price for a 3.33 percent stake sale in dairy firm Vinamilk at 151,200 dong per share ($6.66 each), it said in a statement.

That was based on a Thursday close at 162,500 dong ($7.15 each) and a 7 percent trading band allowed on the exchange.

The sale, expected on Nov. 10, is part of the government’s plan to divest from state-owned enterprises.

A successful stake sale would reduce state ownership in Vinamilk, Vietnam’s biggest listed firm, to 36 percent, enough to retain veto rights.

$1 = 22,712 dong Reporting by Mi Nguyen; editing by Jason Neely

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