Dairy company Vinamilk , Vietnam's largest listed firm, said on Friday it had picked JP Morgan to advise on its overseas listing, the first by a Vietnamese firm.
Vinamilk, or Vietnam Dairy Products Company, said in a statement issued through the Ho Chi Minh Stock Exchange that it had chosen JP Morgan as adviser after completing its assessment of bids on Thursday.
The Ho Chi Minh City-based firm did not say where it intended to list, but chief executive Mai Kieu Lien said in March it planned to list more than 8.85 million shares, or 5 percent of the company, on the Singapore stock market this year.
Vinamilk has a market value of $1.8 billion and its diary products and beverages have a market share of 75 percent. The firm also deals in real estate and provides warehousing and transport services.
Shares in Vinamilk fell 0.61 percent on Friday to 164,000 dong ($10).
Source: Reuters
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