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Thu Duc Water Falls in Vietnam After Vinamilk Sells Entire Stake

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Sept. 4 (Bloomberg) -- Thu Duc Water Supply JSC, a Vietnamese water utility, slumped the most in five months after Vietnam Dairy Products Joint-Stock Co. sold its stake in the company.

The stock fell 6.8 percent, the biggest decline since March 28, to close at 17,900 dong today. The benchmark Ho Chi Minh City Stock Index dropped 0.2 percent.

Vietnam Dairy, also known as Vinamilk and the biggest listed company on the Ho Chi Minh City Stock Exchange, cut its 10-percent stake in Thu Duc Water on Aug. 30, according to a statement on the exchange’s website.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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