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Vietnam state investor to sell 3.33% of Vinamilk on Nov 10

Reuters Published on Mon, Oct 16, 2017 / 3:38 PM GMT+8

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HANOI (Oct 16): Vietnam’s state investor on Monday said it plans to sell 3.33% of Vietnam Dairy Products JSC (Vinamilk) on Nov 10, without the restrictions that applied to a similar sale last year when only a portion of the offering sold.

Vinamilk, Vietnam’s biggest listed firm by market value, is among a handful of state assets to attract significant interest from foreign investors as the government works to reform state-owned enterprises.

A starting price is likely to be announced seven to 10 days prior to the sale date, State Capital Investment Corp Chairman Nguyen Duc Chi said at a media briefing. Chi previously said the sale could fetch 6.5 trillion dong to 7 trillion dong ($387 million to $416 million).