HCMC – F&N Dairy Investments PTE. LTD, a major shareholder of Vietnam Dairy Products JSC (Vinamilk, ticker: VNM), has registered to acquire around 20.9 million VNM shares to increase its ownership in the company.
The share purchases will be executed through block deals and order-matching transactions from November 12 to December 11.
Once these transactions are completed, the stake of F&N Dairy Investments in Vinamilk would rise from 17.69% to 18.69%.
This is the 10th consecutive time since the beginning of 2024 that F&N Dairy Investments has registered to buy nearly 20.9 million VNM shares.
On average, this organization has issued a purchase registration each month, but the attempts have been unsuccessful due to unfavorable market conditions. The most recent registration was from October 9 to November 7.
It is worth noting that VNM shares have been consistently declining. As of the close of trading on November 7, the VNM stock price was VND65,900 per share, its lowest level in over three months.
Based on this price, F&N Dairy Investments would need to spend around VND1,377 billion to buy the number of VNM shares it has registered for.
The VN-Index of the Hochiminh Stock Exchange today, November 7, lost 1.53 points, or 0.12%, against the previous day, and closed at 1,259.75 points, with 165 stocks rising and 193 stocks falling.
The total trading volume reached over 499.2 million units, with a value of VND12,480 billion, down by 12% in both volume and value compared to the previous session. Block transactions contributed around VND1,046.6 billion to the overall value.
The bluechips struggled, with 20 stocks in the VN30 basket ending lower. GVR and MSN were the biggest decliners, with each losing 1.2%.
VHM and HPG maintained the highest liquidity in their group, ranking among the top on the exchange, with 15.99 million and 15.98 million shares traded, respectively.
On the northern bourse, the HNX-Index dropped by 0.27 point, or 0.12%, to 227.49 points. Over 40.5 million shares worth VND701 billion were traded on the market.
