Vinamilk plans 1 percent stock buyback

The buyback is scheduled for May 21-June 20 and would be done by matching orders or negotiations, according to a company statement.

It currently has 0.02 percent treasury stock and this will increase to 1.02 percent post-purchase.

The Vinamilk stock plummeted 30 percent during the selloff in March to VND84,000 ($3.5) before recovering to VND110,000 ($4.7) currently.

It was the third most profitable listed company in the first quarter, behind real estate firm Vinhomes and state-owned lender Vietcombank, with pretax profits staying virtually unchanged year-on-year at VND3.3 trillion ($141 million).

Vinamilk, one of the world’s 50 largest dairy producers, reported growth in exports of 14.8 percent last year to VND5.17 trillion ($223 million).