F&N buys Vinamilk increases stake to 20%

FRASER and Neave (F&N) on Tuesday said it has purchased a total of 705,080 shares in Vietnam's Vinamilk from were acquired through a series of open market purchases. (see amendment note)

As at Tuesday, F&N's two wholly-owned subsidiaries hold about 20 per cent of share capital in Vinamilk.

F&N said in March that it may acquire up to 14.5 million additional shares in Vietnam's Vinamilk, representing about one per cent of the issued share capital of Vinamilk.

Amendment Note: An earlier version of the article stated that the shares were acquired through two related parties to the company. F&N has clarified that this is incorrect as the shares were acquired through open market purchases.