State stakes in Vinamilk were estimated to be worth approximately US$2.46 billion by market capitalisation as of October 13.
The move comes under a decision signed by Deputy PM Vu Van Ninh, which authorises the complete disposal of State stakes in nine other listed companies including FPT Corporation, FPT Telecoms, Bao Minh Insurance, Tien Phong Plastic and Binh Minh Plastic.
The selling of all State ownership stakes in the ten companies is expected to contribute nearly US$3 billion to the government budget. The total value of the ten companies is estimated at US$7 billion by market capitalisation.
The timeframe for the disposal has yet to be determined however the decision has requested the SCIC to choose an appropriate time and report to the prime minister for approval in order to gain maximum benefit.
Also under the decision, the SCIC will continue to retain State stakes in nine other companies including Bao Viet Insurance, Traphaco, DHG Pharma and Domesco.
In 2014, the SCIC reported profits of VND5.2 trillion (US$234 million) and total assets of VND69 trillion (US$3.1 billion).
