Singapore-based Platinum Victory Pte. Ltd. and F&N Dairy Investments Pte. Ltd. have failed to buy more shares of leading Vietnamese diary firm Vinamilk after registering to do so.
According to filings with the Ho Chi Minh Stock Exchange (HoSE) earlier this month, Platinum Victory Pte. Ltd. had registered to spend VND209 billion ($8.52 million) on buying 20.9 million shares of Vinamilk, listed on the HoSE as VNM, via put-through or order matching transactions.
However, the firm did not complete the transaction and no shares were traded “due to unfavorable market conditions,” according to the latest filings by Vinamilk.
Its 10.62% ownership of VNM, equivalent to 221.86 million shares, remains unchanged.
Similarly, F&N Dairy Investments Pte. Ltd. had registered to spend VND209 billion ($8.52 million) on buying 20.9 million VNM shares via put-through or order matching transactions. VNM reported later that the transaction was not completed for the same reason – “unfavorable market conditions.”
It’s ownership of VNM remained at 17.69%, equivalent to 369.75 million shares.
Vinamilk reported revenues of VND15.62 trillion ($639.64 million) and net profits of VND2.33 trillion ($95.4 million) in the fourth quarter of 2023, up 3.6% and 24.4% year-on-year, respectively.
For the whole of last year, the firm posted revenues of VND60.4 trillion ($2.47 billion), equivalent to its 2022 performance; and over VND9 trillion ($368.55 million) in after-tax profit, a year-on-year increase of 5.2%. This met 95% of the revenue plan and exceeded the after-tax profit target by 5%.
VNM shares rose 2.71% to VND71,900 ($2.93) per unit at the close on Monday.