Vinamilk stock drops on plan to sell shares to staff

Vietnam Dairy Products Joint-Stock Co. share value dropped after the company said it planned to raise VND3.6 billion (US$202,000) by listing 364,640 shares for its staff on Vietnam’s main exchange.

The shares ended three days of gains with its steepest drop in a week, 3.1 percent, to VND94,000 on the Ho Chi Minh Stock Exchange. The benchmark VN-Index snapped three days of gains by dropping 1.5 percent.

Vinamilk, as the company is known, will start trading the shares on July 10, the Ho Chi Minh City-based company said in a statement sent to the exchange after the market closed Monday.

thanhnien, bloomberg

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