Vinamilk removes foreign ownership cap

by VTV423 May 2016 Last updated at 17:44 PM

VTV.vn - Vietnam’s dairy giant Vinamilk removed its 49% limit on foreign ownership after a shareholders' meeting on May 21, amid plans to divest its huge government stake.

The scrap was backed by the two biggest  shareholders – the State Capital Investment Corporation (SCIC), a sovereign fund which holds a 45% stake, and F&N Dairy Investment, with an 11% stake.

A specific roadmap for the expansion of foreign ownership has not been revealed. The company is valued at 7.85 billion USD and its brand is worth around 1.5 billion USD. Vinamilk reported revenue of 1.8 billion USD last year, and net profit of 348 million USD. An 11% rise in revenue and 6% rise in profit is expected this year.

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