Subsidiary of SCIC registers to increase shareholding in two giants.
SCIC Investment (SIC), a subsidiary of the State Capital Investment Corporation, has announced its intention to purchase additional stock of Vinamilk (VNM) and FPT Corporation (FPT) for the purpose of investment.
It has registered to buy 300,000 shares of Vinamilk, which will see its holding rise from eleven to 300,011 shares, or 0.025 per cent of Vinamilk’s charter capital. The transaction will be conducted via order matching and put through from December 1 to December 30.
It also registered to buy 500,000 FPT shares, increasing its holding from two to 500,002 shares, or 0.12 per cent of the corporation’s charter capital.
In mid-October the government issued documents encouraging the SCIC to select a timeframe for fully divesting from ten large companies where it has a shareholding, including Vinamilk and FPT Corporation.
VNM has been fluctuating at around the VND125,000 ($5.56) mark since the document was issued, reaching a peak of VND137,000 ($6.09). Prior to the document being issued it was trading between VND110,000 ($4.89) and around VND120,000 ($5.34).
FPT’s price also received a boost from the document but has already come back to its earlier price of around VND50,000 ($2.22).