HANOI Dec 9 Two foreign institutional investors
have registered to buy a combined 78.38 million shares in
Vietnam's dairy firm Vinamilk, the country's state
investment firm said on Friday.
The sale is part of Vietnam's efforts to reduce holdings in
state-controlled businesses and to raise money, but progress has
been slow partly because of the small size of the stakes on
The bids from the two investors were for 60 percent of the
total 130.63 million Vinamilk shares being put up for sale, the
State Capital Investment Corporation (SCIC) said in a statement.
It did not name the bidders.
The investment company owns 44.7 percent of Vinamilk,
Vietnam's biggest listed company by market value.
SCIC also said no domestic investors registered to buy
shares, equivalent to 9 percent of the Ho Chi Minh City-based
company, formally known as Vietnam Dairy Products JSC.
Bidding will begin at 0700 GMT on Monday at the Ho Chi Minh
Stock Exchange with a starting price of 144,000 dong
($6.37)/share, the investment firm said.
(Reporting by Ho Binh Minh; Editing by Jane Merriman)