October 18, 2016 / 7:35 AM / a year ago

Vietnam expects pricing of Vinamilk's 9-pct stake in Nov - state firm

HANOI, Oct 18 (Reuters) - Vietnam is expected to set in November the minimum price for the sale of a coveted 9-percent stake in dairy firm Vinamilk, its biggest listed company by market value, the State Capital Investment Corp (SCIC) said on Tuesday.

The news came after SCIC, Vinamilk’s biggest stakeholder, said it had picked Morgan Stanley Asia, Saigon Securities Incorp and VinaCapital Corporate Finance Vietnam as advisers for the sale of the stake, worth about $830 million at the current market price.

Vinamilk is one of the government’s most valuable assets. The state owns 44.7 percent of Vinamilk via SCIC, and plans to offload all of its shares in the dairy firm in stages. (Reporting by Mai Nguyen; Editing by Clarence Fernandez)

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