* State investor selling 9 pct of Vinamilk
* Vinamilk is Vietnam's biggest listed firm
* Government has pledged to sell Vinamilk
(Adds details of the sale, context)
By Mai Nguyen
HANOI, Oct 7 Morgan Stanley Asia will
lead a group to advise on the sale of a 9 percent stake in
Vietnam's biggest listed firm, dairy produce company Vinamilk
, said stakeholder State Capital Investment Corp (SCIC)
The advisory group, including Vietnam's Saigon Securities
Inc and VinaCapital Corporate Finance Vietnam, on
Wednesday signed a consulting contract with SCIC, the
government's investment arm said on its website.
Vinamilk has a market value of $9.25 billion having grown 21
times in value since listing a decade ago, Reuters data showed.
Its shares have risen 33 percent so far this year on hopes of
solid earnings and the previously promised stake sale.
Steps to deliver on the government's pledge to sell the
fast-growing dairy producer will likely be welcomed by investors
tiring of the country's incremental partial-privatisation of
state assets, market watchers said.
Vietnam Dairy Products JSC, as Vinamilk is formally known,
scrapped its 49 percent foreign-ownership cap in July in
preparation for the stake sale this year by SCIC, which owns
44.7 percent of the dairy firm. The 9 percent stake is worth
$830 million at the current market price.
The advisory group will consult on the minimum bidding
price, seek potential investors and complete necessary
procedures for the stake sale, SCIC said.
(Reporting by Mai Nguyen; Editing by Richard Pullin and