The Vietnam Securities Depositary has moved to lock up 26 million shares out of Minh Phu’s current 70 million shares, effectively making the purchase of these share unavailable to foreign investors.
With the lock-up, only 11.58 percent of Vietnam seafood supplier Minh Phu’s current shares are free to be traded to foreign shareholders, instead of the original 49 percent, according to an announcement from the Ho Chi Minh Stock Exchange.
The move comes at a time when Thai shrimp giant CP Foods is aiming to buy 40 percent of Minh Phu, at VND 45,000 (€1.66/$2.16)
