Thailand's second richest billionaire wants to pour more money into Vinamilk

F&N Dairy Investments has registered to purchase 21.77 million shares of Vinamilk in February after acquiring more than 16.5 million shares before the Lunar New Year Festival.

F&N Dairy Investments has registered to purchase 21.77 million shares of Vinamilk in February after acquiring more than 16.5 million shares before the Lunar New Year Festival.

Thailand's second richest billionaire wants to pour more money into Vinamilk

Charoen Sirivadhanabhakdi, the second richest billionaire in Thailand

If the transaction is successful, F&N Dairy Investments will own nearly 236.5 million Vinamilk shares, equaling to 16.29% of Vinamilk charter capital.

With the current price of VND133,000 (US$5.78) per share, F&N Dairy Investments will have to spend nearly VND3 trillion (US$130.4 million).

Earlier, from December 30, 2016 to January 27, 2017, it had registered to buy the same number of Vinamilk shares but succeeded in purchasing only 16.5 million shares worth more than VND2.1 trillion (US$91.3 million).

Vinamilk has recently announced its trading results in 2016. Its total revenue increased by 16% to VND46.965 trillion (US$2.041 billion) and after-tax profit grew 20.52% to VND9.364 trillion (US$407 million).

F&N Dairy Investments belongs to Singapore F&N owned by Charoen Sirivadhanabhakdi, the second richest billionaire in Thailand. The billionaire is also the owner of ThaiBev, Chang beer brand in Thailand, and Fraser & Neave. He has an ambitious plan to conquer the Vietnamese market and never makes any secret of it. Charoen also intimated that he is willing to spend $1 billion to buy Sabeco stakes when the government pests from the brewer./.

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