HANOI, Nov. 22 (Xinhua) -- Vietnam's State Capital Investment Corporation (SCIC) planned to sell out over 130 million shares or 9 percent of shares in the country's state-owned dairy giant Vinamilk, on Dec. 2.
The first sale of these shares is worth around 800 million U.S. dollars at current market value, local Tuoi Tre (Youth) online newspaper quoted the SCIC as saying on Tuesday.
SCIC, which owns 44.7 percent of Vinamilk shares, said it would not look for strategic investors during the first stake sale in the country's biggest listed firm.
The corporation has not decided the time for selling its remaining stake in Vinamilk, said SCIC chairman Nguyen Duc Chi. The biggest foreign investor in Vinamilk, F&N Dairy Investment, which now owns 10.95 percent of Vinamilk, backed by Thai beer billionaire Charoen Sirivadhanabhakdi, has not submitted any offer to buy more stakes in the firm, Chi added.
According to Vinamilk, the firm's revenue reached 1.8 billion U.S. dollars in 2015, with total profit standing at over 415.74 million U.S. dollars.
In the first nine months of 2016, Vinamilk's profit hit some 403.6 million U.S. dollars. The firm accounts for 49 percent of Vietnam's diary product market share.
