Category Singapore

Two Singapore investors are now competing to raise their stakes in Vietnamese dairy processor Vinamilk as the firm continues to auction off shares. After 6mths of making no moves, Platinum Victory Pte, a subsidiary of the Singapore-based Jardine Cycle & Carriage Ltd and the second-largest overseas shareholder in Vinamilk, have announced plans to buy more than 14.5m shares over the next month with the aim of raising their stake from 10.62% to 11.62%. Meanwhile, F&N Dairy Investment, who have persistently been registering to increase their stake, are looking to add an additional 14.5m shares to raise their stake from 17.31% to 18.31%, after failing to make any headway in last month’s auction.