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Vinamilk to list shares in Singapore
The Vietnam Dairy Products Joint Stock Company, or Vinamilk (securities code VNM), has said that the Singapore Stock Exchange has approved its application to list more than 8.7 million new shares on the Singaporean stock market.
However, the listing date has not been fixed yet.
Vinamilk is the largest milk producer in Vietnam and the second-largest listed company on the HCM City Stock Exchange.
On Tuesday, Vinamilk announced profit of VND1.13 trillion ($66.47 million) for the first ten months of the year, 99% of its yearly plan (VND1.14 trillion, or $67.05 million).
Its revenue during this period was 27.8% higher year on year, hitting the record high level of VND7.08 trillion ($416.47 million).
According to experts, Vinamilk’s sales have been virtually unaffected by the recent melamine scare surrounding milk and milk-based products from China.
Last month the Saigon Securities Trading Company (SSI) forecast that Vinamilk’s profit would hit VND1.29 trillion ($75.88 million) this year.
VnMedia
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