In an announcement in August, the Steering Board for Business Reform and Development set the price at VND154,000 per share.
Previously, the Government had approved the project of selling over 48.3 million shares, equivalent to 3.33 percent of Vinamilk’s chartered capital to reduce state ownership ratio at the company to 36 percent.
State Capital and Investment Corporation (SCIC) is expected to collect about VND7 trillion ($308.26 million) from the share sale.
On December 12, 2016, SCIC started withdrawing 9 percent of state capital from Vinamilk at the starting price of VND144,000 per share. Of these, over 78 million shares equivalent to 5.4 percent were successfully sold.