Thai tycoon-controlled firm persistently seeks to raise stake in Vinamilk
Singapore-based F&N Dairy Investment Pte. Ltd is again planning to buy a large quantity of shares in Vietnam’s largest dairy firm Vinamilk after several failed attempts.
Customers shop at a Vinamilk store. Photo courtesy of VOV.
F&N Dairy Investment Pte. Ltd, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has registered to buy 20.9 million shares in Vinamilk, listed on the Ho Chi Minh Stock Exchange as VNM, between August 2 and 30.
If successful, the Singaporean firm will increase its holding in Vinamilk to 390.65 million shares, or an 18.69% stake, from the current 17.69%.
Based on a price of VND67,700 ($2.68) a share, F&N Dairy Investment Pte. Ltd will need to spend VND1.41 trillion ($56 million) on the purchase.
Since the start of this year, F&N Dairy Investment Pte. Ltd has failed five times to acquire a similar amount of VNM shares, citing “unfavorable market conditions”.
Similarly, Platinum Victory Pte. Ltd, also domiciled in Singapore, has not been able to buy the same amount of VNM shares in five attempts. Earlier this month, the fund registered to buy 20.9 million VNM shares between July 15 and August 13 to increase its holding to 11.62% from the current 10.62%.
Both F&N Dairy Investment Pte. Ltd and Platinum Victory Pte. Ltd are affiliated to three board members of Vinamilk: Lee Meng Tat and Michael Chye Hin Fah, and Alain Xavier Cany.
Meanwhile, SCIC Investment One Member Company Limited (SIC), which is affiliated to Vinamilk’s two Vietnamese board members, has bought 1.45 million VNM shares since the start of this year.
Government-run State Capital Investment Corporation is now the largest shareholder in Vinamilk, with a 36% stake.
Other shareholders include F&N Bev Manufacturing Pte. Ltd. (2.7%), Deutsche Aktiengesellschaft (2.19%), and Fubon FTSE Vietnam ETF (1.28%), according to data from Saigon Securities Inc.
Vinamilk earned a consolidated net profit of VND4,865 billion ($192.4 million) on revenue of VND30,768 billion in H1/2024, up 20% and 5.7% year-on-year, respectively, according to the company’s financial statements.
- Related News
- Read More
Vietnam business lobby urges easing of football betting limits
Vietnam’s leading business lobby VCCI has called on the government to sharply ease limits on international football betting and relax foreign ownership rules to make the industry more appealing to investors.
Finance - Thu, October 23, 2025 | 9:30 pm GMT+7
Powering growth from within
The development of a strong domestic private sector is essential for building a resilient, independent, and self-reliant economy that is less dependent on state-owned enterprises or foreign investment, writes Tim Evans, CEO of HSBC Vietnam.
Economy - Thu, October 23, 2025 | 9:09 pm GMT+7
Vietnam's stock market regulator appoints 2 new vice chairpersons
The State Securities Commission of Vietnam (SSC) has appointed Nguyen Hoang Duong and Le Thi Viet Nga as its new vice chairpersons.
Finance - Thu, October 23, 2025 | 4:14 pm GMT+7
Vinhomes chairman appointed CEO of VinSpeed
Pham Thieu Hoa, chairman of Vinhomes, has been appointed CEO of VinSpeed, a newly established company specializing in railway construction.
Companies - Thu, October 23, 2025 | 3:40 pm GMT+7
De Heus, Hung Nhon to invest $380 mln in high-tech agriculture hub in southern Vietnam
Dutch agribusiness group Royal De Heus and Vietnam’s Hung Nhon Group plan to invest VND10 trillion ($380 million) to develop a high-tech agricultural ecosystem in Tay Ninh province between 2025 and 2030.
Industries - Thu, October 23, 2025 | 2:35 pm GMT+7
Consumer finance major F88’s credit rating upgraded on improved funding capability, liquidity
Vietnamese credit ratings agency FiinRatings has upgraded F88's credit rating from “BBB-” to “BBB”, with a “stable” outlook, citing the company's enhanced capital-raising ability and improved liquidity position.
Companies - Thu, October 23, 2025 | 2:00 pm GMT+7
Vietnam's benchmark VN-Index could surpass 2,000 points in 2026: exec
VN-Index could top 2,000 points next year, said Huynh Minh Tuan, founder of FIDT - a Ho Chi Minh City-based investment consulting firm.
Finance - Thu, October 23, 2025 | 10:55 am GMT+7
Key factors helping firms export to demanding markets: DH Foods exec
Don’t treat business as a week-to-week or month-to-month affair. To go the distance, you must conduct business ethically, writes Nguyen Trung Dung, CEO of DH Foods.
Consulting - Thu, October 23, 2025 | 8:00 am GMT+7
Gold exchange, gold derivatives, gold ETFs proposed to be launched in Vietnam
Forming a gold exchange under state management in Vietnam is suitable to the reality, said Dao Xuan Tuan, head of the foreign exchange management department under the State Bank of Vietnam (SBV).
Finance - Wed, October 22, 2025 | 9:00 pm GMT+7
Real estate major Novaland wins key approval for $5 bln project in central Vietnam
Novaland Group (HoSE: NVL), one of Vietnam’s leading property developers, has received investment approval for its flagship project worth $5 billion in the central province of Lam Dong after years of delay due to legal obstacles.
Real Estate - Wed, October 22, 2025 | 4:20 pm GMT+7
Vietnam's plastics heavyweights Tien Phong, Binh Minh report profit surges
Tien Phong Plastic (HNX: NTP) recorded pre-tax profit of nearly VND949 billion ($36.04 million) in the first nine months of the year, exceeding its full-year target by 10.85%, while Binh Minh Plastic (HoSE: BMP) achieved record net profit of VND350 billion ($13.29 million) in Q3, surpassing its VND330 billion milestone set in the previous quarter.
Companies - Wed, October 22, 2025 | 4:17 pm GMT+7
Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships
A series of cooperation agreements were signed between Vietnam and Finland on Tuesday, within the framework of Party chief To Lam's official visit to Helsinki, while bilateral relationship was lifted to a "strategic partnership".
Economy - Wed, October 22, 2025 | 12:43 pm GMT+7
Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam
Industrial park developer Trung Nam Ca Na is seeking approval to convert about 170 hectares of agricultural and forest land for the construction of a VND3,875 billion ($147 million) project in Vietnam’s central coastal province of Khanh Hoa.
Industrial real estate - Wed, October 22, 2025 | 10:54 am GMT+7
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
- Consulting
-
Powering growth from within
-
Key factors helping firms export to demanding markets: DH Foods exec
-
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
-
Vietnam's International Financial Center ambition can unlock new wave of innovation
-
Vietnam’s rapid capital market reforms set to pay dividends in coming decades
-
VN-Index valuation might offer '15-20% upside' in next 12-18 months
