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Vietnam to hold second auction of Vinamilk shares next month

Sale of more than 3% of shares expected to raise more than $280m for national coffers

Representatives from Fraser and Neave in Singapore sign a contract after winning 5.4% of the 9% stake offered at the first Vinamilk auction in December 2016. (Photo by Kim Dung Tong)

HO CHI MINH CITY -- Vietnam's State Capital Investment Corporation, better known as SCIC, is planning to hold a public auction for a more than 3% stake in Vietnam Dairy Products (Vinamilk) on the Ho Chi Minh City stock exchange on Nov. 10*.

SCIC Chairman Nguyen Duc Chi told reporters at a press conference in Hanoi on Monday that the company had carried out roadshows in Hong Kong and Singapore and discussed the stake sale with more than 30 investors from those markets.

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