Jardine unit to exit Vietnam’s largest dairy firm with planned sale of entire 6% stake

Platinum Victory plans to sell all 125.76 million Vinamilk shares it holds, equivalent to 6.02 percent of the company's charter capital, between January 28 and February 26 through negotiated or open-market transactions. 

If completed, the sale would reduce its ownership to zero.

Vinamilk shares were trading at VND70,900 (US$2.7) apiece on Friday, up nearly 16 percent since the start of the year. 

At current prices, the transaction could be worth about VND9 trillion (US$342.88 million).

The planned exit follows a deal in December in which F&N Dairy Investments Pte. Ltd., part of Singapore's Fraser & Neave, agreed to buy more than 96 million Vinamilk shares, or about 4.6 percent of the company, from Jardine Cycle & Carriage at an average price of VND62,555 ($2.4) per share. 

The transaction was valued at more than VND6 trillion ($228.6 million).

After that deal, F&N's combined ownership in Vinamilk was expected to rise to nearly 25 percent, making it the company's second-largest shareholder after the Vietnamese state.

Platinum Victory's stake had already been reduced from 10.62 percent to 6.02 percent following the December transaction, and the firm withdrew its representative from Vinamilk's board.

Separately, SCIC Investment Co Ltd, a wholly owned subsidiary of Vietnam's State Capital Investment Corporation (SCIC), said it did not sell any of the 1.45 million Vinamilk shares it had registered to divest between December 10, 2025 and January 8, citing unfavorable market conditions.

SCIC remains Vinamilk's largest shareholder, holding nearly 752.5 million shares, or about 36 percent of the company.