VIETNAM CHAMBER OF COMMERCE AND INDUSTRY
Liên Đoàn Thương Mại Và Công Nghiệp Việt Nam
Tue, May 12, 2020, 07:05:00
Dairy giant Vinamilk plans to buy back 1 percent of its shares from the market at an estimated VND1.9 trillion ($81.4 million).
The buyback is scheduled for May 21-June 20 and would be done by matching orders or negotiations, according to a company statement.
It currently has 0.02 percent treasury stock and this will increase to 1.02 percent post-purchase.
The Vinamilk stock plummeted 30 percent during the selloff in March to VND84,000 ($3.5) before recovering to VND110,000 ($4.7) currently.
It was the third most profitable listed company in the first quarter, behind real estate firm Vinhomes and state-owned lender Vietcombank, with pretax profits staying virtually unchanged year-on-year at VND3.3 trillion ($141 million).
Vinamilk, one of the world’s 50 largest dairy producers, reported growth in exports of 14.8 percent last year to VND5.17 trillion ($223 million).
