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F&N Dairy Investments has registered to buy 21.77 million Vinamilk shares

Released at: 16:00, 03/02/2017

F&N Dairy Investments has registered to buy 21.77 million Vinamilk shares

Photo: Duc Anh

Thai billionaire and owner of F&N looks to expand his empire.

by Van Lee

F&N Dairy Investments has registered to buy 21.77 million of Vinamilk’s shares in February. The company currently owns more than 16.5 million of its shares.

F&N Dairy Investments, which is under F&N Beverages Singapore and owned by Thai billionaire Charoen Sirivadhanabhakdi, will buy 21.77 million shares of Vinamilk from February 6 to March 7 through order matching methods and agreements.

With VNM’s current market trading price at VND133,000 ($ 5.87) per share, it’s estimated that F&N Dairy Investments have to spend VND3,000 billion ($132.5 million).

From December 30, 2016 to January 27, 2017, F&N Dairy Investments subscribed to the same amount of shares but only successfully bought 16.5 million shares, which was equivalent to more than VND2.1 trillion ($92.41 million).

In late 2016, F&N Dairy Investments was one of two companies owned by F&N beverages Singapore. F&N has spent a total of more than $500 million to buy nearly 80 million shares of Vinamilk, whih is equivalent to 60 per cent of the volume offered for sale during the company’s first divestment.

If they successfully buy the 22 million shares that were registered, the total amount F&N Dairy Investments will have spent to continuously buy Vinamilk shares from late 2016 to early 2017 will be more than VND 10.7 trillion ($472.61 million).

Vinamilk has announced the business results of 2016. The total revenue reached VND46.96 trillion ($2.1 billion), up more than 16 per cent over the previous year. Its after-tax profit in 2016 reached VND 9.3 trillion ($410.8 million), up 20.52 per cent.

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