A Vinamilk farm in Don Duong district, Lam Dong province (Photo: VNA)Hanoi (VNS/VNA) - Singaporean firm F&N Dairy Investment Pte Ltd has filed anoffer to purchase more than 17.4 million shares in domestic dairy producerVinamilk (HoSE: VNM).
F&N Dairy Investment plansto purchase the shares via put-through or order-matching transactions fromApril 8 to May 7.
If completed, the deal willincrease the Singaporean firm’s ownership in Vinamilk to 18.69 percent, equalto 325.54 million shares, from 17.69 percent.
F&N Dairy Investment hadpreviously offered to buy the same amount of Vinamilk shares between March 6and April 3.
The original deal wasunsuccessful and the company was only able to purchase 633,000 sharesdue to “unfavourable market conditions”, Vinamilk said in a filing to HoSE.
The Singaporean firm alsofailed to increase its stake in Vinamilk in 2019 and January 2020. InFebruary and March, it bought six million Vinamilk shares.
Vinamilk shares edged up0.5 percent to trade at 95,500 VND (4.06 USD) apiece on April 6.
The company's shares have lost31 percent since January 30 as the spread of the coronavirus overshadowsexpectations for global economic growth and hits stocks markets hard worldwide.
As the company’s shares havecontinued to decline, leaders at Vinamilk have reportedly registered to raisetheir ownership.
CEO Mai Kieu Lien is buying Vinamilk shares to up herstake by 0.03 percentage point to 0.31 percent. Transactions started on March24 and will end on April 23.
Director of materialdevelopment TrinhQuoc Dung and CFO Le Thanh Liem want to buy 200,000 shares each.
The largest dairy firm bymarket capitalisation, Vinamilk reported 56.3 trillion VND (over 2.38billion USD) in totalrevenue last year, up 7 percent year on year.
Its post-tax profit gained 3.4 percenton-year to 10.5 trillion VND (445 million USD) in 2019.
Cash and cash-equivalent assetsincreased by 1.14 trillion VND (48.3 million USD) from the previous year to 2.66 trillion VND (112.7million USD) at the end of2019.
Short-term savings stoodat 12.4 trillion VND (525.5 million USD), up by 3.76 trillion VND(159.4 million USD) from2018.
Short-term savings, cash andcash-equivalent assets accounted for 33.78 percent of the firm’s total assetslast year, up from 27.29 percent in 2018./.
F&N Dairy Investment plansto purchase the shares via put-through or order-matching transactions fromApril 8 to May 7.
If completed, the deal willincrease the Singaporean firm’s ownership in Vinamilk to 18.69 percent, equalto 325.54 million shares, from 17.69 percent.
F&N Dairy Investment hadpreviously offered to buy the same amount of Vinamilk shares between March 6and April 3.
The original deal wasunsuccessful and the company was only able to purchase 633,000 sharesdue to “unfavourable market conditions”, Vinamilk said in a filing to HoSE.
The Singaporean firm alsofailed to increase its stake in Vinamilk in 2019 and January 2020. InFebruary and March, it bought six million Vinamilk shares.
Vinamilk shares edged up0.5 percent to trade at 95,500 VND (4.06 USD) apiece on April 6.
The company's shares have lost31 percent since January 30 as the spread of the coronavirus overshadowsexpectations for global economic growth and hits stocks markets hard worldwide.
As the company’s shares havecontinued to decline, leaders at Vinamilk have reportedly registered to raisetheir ownership.
CEO Mai Kieu Lien is buying Vinamilk shares to up herstake by 0.03 percentage point to 0.31 percent. Transactions started on March24 and will end on April 23.
Director of materialdevelopment TrinhQuoc Dung and CFO Le Thanh Liem want to buy 200,000 shares each.
The largest dairy firm bymarket capitalisation, Vinamilk reported 56.3 trillion VND (over 2.38billion USD) in totalrevenue last year, up 7 percent year on year.
Its post-tax profit gained 3.4 percenton-year to 10.5 trillion VND (445 million USD) in 2019.
Cash and cash-equivalent assetsincreased by 1.14 trillion VND (48.3 million USD) from the previous year to 2.66 trillion VND (112.7million USD) at the end of2019.
Short-term savings stoodat 12.4 trillion VND (525.5 million USD), up by 3.76 trillion VND(159.4 million USD) from2018.
Short-term savings, cash andcash-equivalent assets accounted for 33.78 percent of the firm’s total assetslast year, up from 27.29 percent in 2018./.
VNA
