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Banking & Finance

Vinamilk attracts suitors

Released at: 14:19, 28/11/2015

Vinamilk attracts suitors

Two funds under the management of Dragon Capital join SCIC Investment Corporation in looking to increase holdings in milk giant.

by Hung Nguyen

DC Developing Markets Strategies and Norges Bank Investment Management, both under the management of Dragon Capital, have announced they will buy additional shares in Vinamilk.

DC Developing Markets Strategies has registered to buy 100,000 shares, which will increase its holding from 270,016 (0.02 per cent) to 370,016 shares (0.03 per cent). The transaction will be conducted between December 1 and December 30.

Norges Bank Investment Management, meanwhile, has registered to buy 500,000 shares, increasing its holding from 5,029,200 (0.42 per cent) to 5,529,200 (0.46 per cent). The transaction will be conducted over the same period as DC Developing Markets Strategies.

On November 28 the SCIC Investment Corporation proposed to purchase of 300,000 additional Vinamilk shares in the same period. The purchases are likely to trigger greater demand for the stock.

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