The Saigon Beer, Alcohol and Beverages Corporation (Sabeco), a leading brewer in Vietnam, is set to be listed on the HCM Stock Exchange (HOSE) this November.
Hanoi (VNA) – The Saigon Beer, Alcohol and Beverages Corporation (Sabeco), a leading brewer in Vietnam, is set to be lꦦisted on the HCM Stock Exchange (HOSE) this November.
The Ministry of Industry and Trade (MoIT) has accepted the proposal to list the Sabeco stocks on HOSE, which was suggested by the State capital management division at Sabeco.
The MoIT said earlier this month, the Prime Minister had assigned it to direct the representatives of State capital at Sabeco and Habeco (Hanoi Beer, Alcohol and Beverage Corporation) to list their stocks on stock exchanges.
The State is currently holding nearly 90 percent of the charter capital at Sabeco, so big that the divestment of the State stake at this firm must be done in two phases, according to the MoIT.
While 53.59 percent of the State capital, equivalent to 24 trillion VND (1.08 billion USD), will be sold in 2016, the remaining 35.6 percent (16 trillion VND or 720 million USD) will be sold in 2017 after Sabeco is listed.
Meanwhile, Habeco is seeking a partner to ask for advice on listing procedures, the MoIT said, adding that this company has already been equitised.
The State now owns nearly 82 percent of Habeco’s charter capital while the strategic stakeholder, Carlsberg, holds 15.76 percent. The rest 1.86 percent belongs to Habeco employees.-VNA
The Saigon Beer, Alcohol and Beverage Corp (Sabeco) may get permission to be listed on the stock exchange in the near future, the Ministry of Industry and Trade (MoIT) said in a statement.
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The plan to divest State capital from major State-owned enterprises (SOEs) such as Sabeco and Habeco is good news for the market and will create a more favourable investment environment in Vietnam.
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Illustrative image (Source: dantri.com)
