11:17:26 AM | 23/10/2007
Vietnam Milk Joint Stock Company (Vinamilk), the largest by the market capitalization, is preparing final procedures for listing shares on the Singapore Stock Exchange, the State Capital Investment Corp (SCIC) said October 18.
Vinamilk has selected consultant to list offshore, but did not reveal the name of the consulting company, said SCIC which manages state capital in Vinamilk.
The listing is an important step for the enterprise after the transfer of state-owned capital to SCIC which is holding 46.7 per cent in Vinamilk.
The leading dairy products producer netted profit of VND755.2 billion ($47.2 million) in the first nine months, and revenue of VND4.95 trillion ($309.4 million), Vinamilk said October 21.
The listed firm raised VND577 billion ($36.1 million) from its term deposits in the third quarter to fund its projects. It has also invested VND44 billion to acquire a 55 per cent stake in Milas Milk JSC.
Vinamilk EPS was VND4,414 each share in the period, and dividend payout of VND1,900.
However, VNM price has still decreased in several weeks due to some violations in privatization process, now standing at VND185,000 each. (VNA, Vietnamnet)
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