[Round-up] Singapore Fund Keen on Sabeco Shares, PV Oil Eyes $122-Million IPO

Tuan Minh

08:15 05/12/2017

BizLIVE - Vietnam’s biggest brewer Sabeco has said a $1 trillion fund manager based out of Singapore was interested in its upcoming share disposal. PV Oil plans to offer 20% of its shares in an initial public offering in January that aims to raise at least $122 million.

[Round-up] Singapore Fund Keen on Sabeco Shares, PV Oil Eyes $122-Million IPO

A filling station of PV Oil.

Vietnam's PV Oil Aims to Raise at least $122 Million from Jan IPO
Vietnam state oil distribution firm PetroVietnam Oil Corp (PV Oil) plans to offer 20% of its shares in an initial public offering (IPO) in January that aims to raise at least $122 million, its parent firm said on Friday.
PV Oil would also offer up to an additional 44.72% to strategic investors and another 0.18% to employees, state oil and gas group PetroVietnam said in a statement on its website.
Vietnam Sees 7% Rise in Cement Output in Jan-Nov
Vietnam produced 77.9 million tons of cement in the first 11 months of this year, representing a 6.6% rise year-on-year, according to the latest data from the government-run General Statistics Office.
In November alone, 8.9 million tons of cement were produced. In the ten months through October, 69 million tons of cement left Vietnam's cement plants.
Vietnam Launches E-System for Declaring Imported Chemicals
Vietnam’s Ministry of Industry and Trade and its General Department of Customs have officially launched an electronic declaration system for chemicals imported into the country, aiming to make the process more cost- and time-effective.
Companies must now use a national single window, to declare imported substances under Article 27 of the Decree 113/2017/ND-CP. The decree took effect on 25 November. It sets out a number of new rules, including the import declaration as part of the chemical law.
Italian Textile Technology Center Opens in Vietnam
A new textile technology training and research center has opened up in Ho Chi Minh City, equipped with Italian machinery and with training provided by Italian experts.
The Italy-Vietnam Textile Technology Center – an Italian-funded project-was opened at HCM City University of Technology this week. It is expected to be a place for training and supplying skilled managers and workers for Vietnamese and Italian textile-garment businesses.
Thai Beverage Buys out Vietnamese Consultancy
Thai Beverage Pcl, a manufacturer of Chang beer and branded spirits in Thailand, has acquired the remaining 49% interest in Vietnam F&B Alliance Investment Joint Stock Company for 98 million dong ($4,321).
Thai Beverage said in a regulatory filing on Wednesday evening that its wholly-owned subsidiary BeerCo purchased the shares from a third party shareholder. Upon the transaction’s completion, Vietnam F&B becomes an indirect subsidiary of Thai Beverage.
Businesses Accompany Vietnam to Develop Smart Industry
Domestic and international businesses participating in Smart Industry World 2017 have committed to accompanying Vietnam to soon develop the smart industry effectively.
They made the promise at a meeting with Nguyen Van Binh, head of the Communist Party of Vietnam (CPV) Central Committee’s Economic Commission, in Hanoi on December 4.
Land Clearance for Long Thanh Airport Project Sped up
Tran Van Vinh, Vice Chairman of the Dong Nai province People’s Committee, has urged units involving in site clearance, compensation, support and resettlement of the Long Thanh international airport project to double efforts in order to ensure the feasibility study report to acquire land for the construction is completed in December 2017.
At a working session with representatives of the units on December 4, Vinh said land reclaiming, compensation, support and resettlement work will target all 5,000ha of the project.
Singapore-based $1-Trillion Fund Manager Keen on Sabeco Shares
Vietnam’s biggest brewer Sabeco has said a $1 trillion fund manager based out of Singapore was interested in its upcoming share disposal, according to the government media portal report, citing the company.
No further details were disclosed while DEALSTREETASIA could not ascertain the name of the fund.
South Korea’s LG Display Co Ltd has decided to invest another $1.1 billion to expand its operational organic light emitting diode (OLED) plant in northern Vietnam as it is still waiting for the delayed government approval for its first OLED plant in China, The Investor reported.
The funding plan for the Vietnamese unit, LG Display Vietnam Haiphong, comprises of $600 million in debt and $500 million in capital increase. The company has decided to carry out the plan in phases over the next four years.
Total credit in the Vietnamese banking system grew 15.3% in the 11 months through November this year, compared to a 15.6% increase in the same period last year, as banks pumped more cash to meet demand in the high season, the National Financial Supervisory Commission has said in a monthly report.
Lending by banks increased 2.8% between October and November, the commission added.
As much as 9.153 trillion dong ($403.2 million) worth of government- and government-guaranteed bonds was sold in Vietnam in November, up 21.8% from a month earlier, with winning interest rates edging up by two to five basis points for five- and seven-year notes, according to the Hanoi Stock Exchange.
FPT Retail JS Company (FPT Retail), the retail arm of Vietnamese tech giant FPT Corp., plans to list on the Hochiminh Stock Exchange before the end of April next year, according to a company document seen by BizLIVE.
The company is preparing for its initial public offering (IPO) scheduled for by the end of this year.
Vietnam-based Ho Chi Minh City Development JSC Bank (HDBank)’s upcoming initial public offering (IPO), if successful, would be credit positive for the bank and prompt more banks to follow suit, Moody’s Investors Service has said in a note sent to BizLIVE.  
HDBank (B2 stable, b3) has disclosed that it plans to sell up to a 20% stake to foreign investors for $300 million at an imminent IPO to foreign investors and plans to list its shares on the Hochiminh Stock Exchange (HOSE) in early 2018.
Foreign traders have net bought 24.37 trillion dong ($1.073 billion) worth of Vietnamese equities in the year to date, providing significant support to recent rallies of the main indexes, according to exchange data.
In the week ending December 1, they net spent 2.01 trillion dong ($88.68 million) to purchase local shares, extending the buying spree since the start of this year.

TUAN MINH

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