VLC allows GTN to purchase 65 per cent

Viet Nam Livestock Corporation JSC (VLC) announced that it allowed local food maufacturer GTNFoods (GTN) to buy a 65 per cent stake in the company at the 2016 general shareholder meeting.

VLC plans to increase its chartered capital from more than VND600 billion (US$27 million) to about VND1.3 trillion by selling shares to existing shareholders.

Currently the Ministry of Agrculture and Rural Development is its largest shareholder, with a 77 per cent stake in the company. GTN was the second largest shareholder, with nearly an 8 per cent stake.

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