Vinamilk (VMN), the biggest Vietnamese dairy producer, witnessed massive share gains on Friday when 158,000 shares changed hands.
The company’s stock shot up from VND53,000 (US$3.3) the previous day to VMD54,000 triggering the VN-Index to rise by 2.86 points, Vietcombank Securities reported. The total trading value increased from VND19.4bn to VND19.6bn by the close of trading on Friday. Of this, foreign capital had acquired a considerable 16,900 VMN.
However, it is expected that VMN’s stock value increase is expected to slow, or even decline, because the number of shares for sale totalled 234,000 – 34% higher than demand.